Short Interest in DeFi Technologies Inc. (NASDAQ:DEFT) Increases By 25.4%

DeFi Technologies Inc. (NASDAQ:DEFT) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 18,761,398 shares, an increase of 25.4% from the March 31st total of 14,963,103 shares. Approximately 4.8% of the shares of the company are sold short. Based on an average trading volume of 17,317,794 shares, the days-to-cover ratio is currently 1.1 days.

DeFi Technologies Price Performance

Shares of NASDAQ DEFT traded down $0.01 during midday trading on Wednesday, reaching $0.75. 1,637,340 shares of the stock traded hands, compared to its average volume of 5,796,142. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $292.29 million, a PE ratio of 4.43 and a beta of 4.24. DeFi Technologies has a one year low of $0.47 and a one year high of $4.95. The company’s 50 day moving average is $0.69 and its 200 day moving average is $1.04.

DeFi Technologies (NASDAQ:DEFT) last posted its earnings results on Thursday, April 2nd. The company reported $0.08 EPS for the quarter. The firm had revenue of $19.08 million during the quarter. DeFi Technologies had a return on equity of 85.99% and a net margin of 63.61%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DEFT. Geode Capital Management LLC bought a new position in shares of DeFi Technologies during the 2nd quarter valued at approximately $1,294,000. JPMorgan Chase & Co. bought a new position in shares of DeFi Technologies during the 2nd quarter valued at approximately $88,000. Legal & General Group Plc bought a new position in shares of DeFi Technologies during the 2nd quarter valued at approximately $854,000. American Century Companies Inc. bought a new position in shares of DeFi Technologies during the 2nd quarter valued at approximately $71,000. Finally, Quantbot Technologies LP bought a new position in shares of DeFi Technologies during the 2nd quarter valued at approximately $160,000.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DEFT shares. Weiss Ratings upgraded DeFi Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, April 8th. Wall Street Zen downgraded DeFi Technologies from a “sell” rating to a “strong sell” rating in a research note on Monday, April 20th. B. Riley Financial restated a “buy” rating on shares of DeFi Technologies in a research note on Wednesday, April 8th. Maxim Group dropped their price target on DeFi Technologies from $2.00 to $1.50 and set a “buy” rating for the company in a research note on Monday, April 13th. Finally, HC Wainwright dropped their price target on DeFi Technologies from $5.50 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $2.25.

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.