1,900,000 Shares in DeFi Technologies Inc. $DEFT Bought by Galaxy Digital Inc.

Galaxy Digital Inc. purchased a new stake in DeFi Technologies Inc. (NASDAQ:DEFT) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,900,000 shares of the company’s stock, valued at approximately $1,050,000. Galaxy Digital Inc. owned approximately 0.49% of DeFi Technologies at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of DEFT. Hudson Bay Capital Management LP bought a new stake in DeFi Technologies in the 2nd quarter valued at approximately $41,000. Royal Bank of Canada boosted its stake in shares of DeFi Technologies by 54.5% during the 4th quarter. Royal Bank of Canada now owns 42,900 shares of the company’s stock worth $33,000 after buying an additional 15,133 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of DeFi Technologies in the 3rd quarter valued at about $34,000. Commonwealth Equity Services LLC increased its position in shares of 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 acquiring an additional 16,524 shares during the last quarter. Finally, Shay Capital LLC acquired a new stake in shares of DeFi Technologies in the second quarter valued at about $50,000.

DeFi Technologies Price Performance

DeFi Technologies stock opened at $0.39 on Friday. The company has a market capitalization of $153.12 million, a price-to-earnings ratio of 3.95 and a beta of 3.81. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.02. DeFi Technologies Inc. has a 12 month low of $0.39 and a 12 month high of $3.02. The stock’s 50 day moving average is $0.54 and its 200-day moving average is $0.69.

DeFi Technologies (NASDAQ:DEFT) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. The business had revenue of $11.19 million during the quarter, compared to analysts’ expectations of $10.68 million. DeFi Technologies had a return on equity of 42.24% and a net margin of 56.94%. Equities research analysts expect that DeFi Technologies Inc. will post -0.01 EPS for the current year.

Analyst Upgrades and Downgrades

DEFT has been the subject of several recent research reports. Benchmark reduced their price target on DeFi Technologies from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Monday, May 18th. HC Wainwright lowered their price target on DeFi Technologies from $5.50 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. B. Riley Financial reiterated a “buy” rating on shares of DeFi Technologies in a research note on Wednesday, April 8th. Maxim Group cut their price objective on DeFi Technologies from $2.00 to $1.50 and set a “buy” rating for the company in a report on Monday, April 13th. Finally, Wall Street Zen raised shares of DeFi Technologies from a “strong sell” rating to a “sell” rating in a report on Monday, June 29th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2.00.

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.