DeFi Technologies (NASDAQ:DEFT) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

DeFi Technologies (NASDAQ:DEFT) announced its quarterly earnings data on Thursday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02), Zacks reports. DeFi Technologies had a net margin of 39.65% and a return on equity of 15.47%.

DeFi Technologies Stock Performance

Shares of DeFi Technologies stock traded up $0.01 on Friday, hitting $0.49. The stock had a trading volume of 4,358,855 shares, compared to its average volume of 1,684,865. The company’s 50 day moving average price is $0.49 and its 200 day moving average price is $0.63. The stock has a market cap of $189.95 million, a price-to-earnings ratio of 8.16 and a beta of 3.92. 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 has a 52-week low of $0.39 and a 52-week high of $2.80.

Analysts Set New Price Targets

Several equities research analysts have weighed in on DEFT shares. Benchmark cut their price target on DeFi Technologies from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Weiss Ratings raised DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 8th. Finally, Wall Street Zen cut shares of DeFi Technologies to a “strong sell” rating in a report on Saturday. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, DeFi Technologies has an average rating of “Moderate Buy” and a consensus target price of $2.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Hudson Bay Capital Management LP purchased a new position in shares of DeFi Technologies during the second quarter worth about $41,000. Royal Bank of Canada raised its stake in shares of DeFi Technologies by 54.5% during 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 last quarter. Caitong International Asset Management Co. Ltd purchased a new position in DeFi Technologies in the 3rd quarter valued at $34,000. Commonwealth Equity Services LLC increased its stake in DeFi Technologies by 79.6% in the 4th 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. Finally, Shay Capital LLC purchased a new position in DeFi Technologies during the 2nd quarter worth $50,000.

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.