DeFi Technologies Inc. (NASDAQ:DEFT) Receives $1.44 Average PT from Analysts

Shares of DeFi Technologies Inc. (NASDAQ:DEFT) have earned an average recommendation of “Hold” from the five analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $1.4375.

DEFT has been the topic of a number of recent analyst reports. Maxim Group lowered DeFi Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Weiss Ratings downgraded DeFi Technologies from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. Wall Street Zen lowered DeFi Technologies to a “strong sell” rating in a research report on Saturday, August 15th. Northland Securities set a $1.25 price target on shares of DeFi Technologies in a report on Monday, August 17th. Finally, Benchmark reduced their price objective on DeFi Technologies from $2.00 to $1.00 and set a “buy” rating for the company in a research note on Tuesday, August 18th.

Hedge Funds Weigh In On DeFi Technologies

A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in DeFi Technologies in the first quarter valued at about $25,000. Commonwealth Equity Services LLC lifted its stake in DeFi Technologies by 79.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 37,270 shares of the company’s stock valued at $28,000 after buying an additional 16,524 shares during the period. Royal Bank of Canada raised its holdings in DeFi Technologies by 54.5% in the fourth quarter. Royal Bank of Canada now owns 42,900 shares of the company’s stock worth $33,000 after purchasing an additional 15,133 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in DeFi Technologies during the third quarter worth about $34,000. Finally, CIBC Asset Management Inc acquired a new position in shares of DeFi Technologies in the 4th quarter valued at approximately $36,000.

DeFi Technologies Trading Up 3.8%

Shares of NASDAQ:DEFT opened at $0.58 on Monday. The stock has a market capitalization of $223.83 million, a price-to-earnings ratio of 9.61 and a beta of 4.06. DeFi Technologies has a 12-month low of $0.39 and a 12-month high of $2.80. The stock has a fifty day simple moving average of $0.51 and a two-hundred day simple moving average of $0.61.

DeFi Technologies (NASDAQ:DEFT) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). DeFi Technologies had a return on equity of 15.43% and a net margin of 39.65%. As a group, equities research analysts predict that DeFi Technologies will post -0.04 EPS for the current year.

About DeFi Technologies

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.