DeFi Technologies (NASDAQ:DEFT) Stock Rating Lowered by Maxim Group

DeFi Technologies (NASDAQ:DEFT) was downgraded by investment analysts at Maxim Group from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other research analysts also recently commented on the company. Northland Securities set a $1.25 price target on DeFi Technologies in a research note on Monday. Wall Street Zen downgraded DeFi Technologies to a “strong sell” rating in a report on Saturday. Benchmark reduced their target price on shares of DeFi Technologies from $2.00 to $1.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Weiss Ratings raised DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 8th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1.44.

DeFi Technologies Trading Down 6.0%

Shares of DEFT opened at $0.44 on Wednesday. DeFi Technologies has a 12 month low of $0.39 and a 12 month high of $2.80. The firm’s 50 day moving average is $0.48 and its 200-day moving average is $0.62. The stock has a market capitalization of $169.64 million, a PE ratio of 7.28 and a beta of 3.92.

DeFi Technologies (NASDAQ:DEFT) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). DeFi Technologies had a return on equity of 15.43% and a net margin of 39.65%. Equities research analysts predict that DeFi Technologies will post -0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DEFT. Charles Schwab Investment Management Inc. increased its holdings in DeFi Technologies by 416.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,329,284 shares of the company’s stock worth $5,531,000 after purchasing an additional 5,909,228 shares in the last quarter. Cable Car Capital LP bought a new stake in shares of DeFi Technologies during the 3rd quarter worth $10,871,000. Millennium Management LLC boosted its stake in DeFi Technologies by 103.6% in the fourth quarter. Millennium Management LLC now owns 5,836,397 shares of the company’s stock valued at $4,404,000 after acquiring an additional 2,969,170 shares during the last quarter. Marshall Wace LLP lifted its stake in DeFi Technologies by 128.0% in the third quarter. Marshall Wace LLP now owns 4,384,356 shares of the company’s stock valued at $9,251,000 after purchasing an additional 2,461,204 shares during the last quarter. Finally, Galaxy Digital Inc. bought a new position in shares of DeFi Technologies during the 1st quarter worth $1,050,000.

DeFi Technologies Company Profile

DeFi Technologies Inc is a Vancouver-based company focused on decentralized finance (DeFi) and digital asset investments. Through strategic equity stakes and token allocations, the company aims to provide investors with exposure to leading DeFi protocols, applications, and infrastructure projects. Its core activities include sourcing, evaluating and acquiring positions in blockchain-based platforms that facilitate decentralized lending, trading, yield farming and liquidity provision.

In addition to its investment portfolio, DeFi Technologies works to develop and distribute tokenized products that bridge traditional capital markets with emerging DeFi ecosystems.