DeFi Technologies Inc. (NASDAQ:DEFT) Stock Has Consensus Price Target of $1.44 According to Brokerages

DeFi Technologies Inc. (NASDAQ:DEFT) has been assigned an average rating of “Hold” from the five research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $1.44.

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

DeFi Technologies Trading Up 0.8%

Shares of DeFi Technologies stock opened at $0.52 on Friday. The company’s fifty day simple moving average is $0.54 and its 200-day simple moving average is $0.59. The company has a market cap of $202.94 million, a price-to-earnings ratio of 8.71 and a beta of 4.14. DeFi Technologies has a 1 year low of $0.39 and a 1 year high of $2.28.

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

Institutional Investors Weigh In On DeFi Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Amundi bought a new stake in DeFi Technologies in the 2nd quarter valued at about $40,000. GTS Securities LLC bought a new position in DeFi Technologies in the second quarter worth approximately $61,000. Public Employees Retirement System of Ohio bought a new position in DeFi Technologies in the second quarter worth approximately $64,000. Cable Car Capital LP acquired a new stake in DeFi Technologies in the second quarter valued at approximately $677,000. Finally, Legal & General Group Plc acquired a new stake in DeFi Technologies in the second quarter valued at approximately $185,000.

DeFi Technologies Company Profile

DeFi Technologies Inc is a Canadian financial technology company focused on the digital-asset and decentralized finance ecosystem. The company develops and operates businesses that provide investors, institutions and other market participants with access to blockchain-based financial products and services.

Through its Valour brand, DeFi Technologies offers exchange-traded products designed to provide exposure to digital assets, including cryptocurrencies and other blockchain-related investments.