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

Shares of DeFi Technologies Inc. (NASDAQ:DEFT) have earned a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $1.44.

Several research analysts recently issued reports on DEFT shares. Maxim Group cut DeFi Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Benchmark decreased their target price on DeFi Technologies from $2.00 to $1.00 and set a “buy” rating for the company in a research report on Tuesday, August 18th. Wall Street Zen downgraded 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. Finally, Weiss Ratings upgraded DeFi Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th.

DeFi Technologies Price Performance

Shares of DEFT stock opened at $0.35 on Tuesday. The company has a market capitalization of $136.15 million, a P/E ratio of 5.84 and a beta of 4.14. The company’s 50-day simple moving average is $0.51 and its two-hundred day simple moving average is $0.61. DeFi Technologies has a one year low of $0.35 and a one year high of $1.93.

DeFi Technologies (NASDAQ:DEFT) last issued its earnings results on Thursday, August 13th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). DeFi Technologies had a return on equity of 15.43% and a net margin of 39.65%. On average, research analysts expect that DeFi Technologies will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On DeFi Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of DEFT. Weiss Asset Management LP raised its holdings in shares of DeFi Technologies by 0.6% during the first quarter. Weiss Asset Management LP now owns 8,043,428 shares of the company’s stock worth $4,444,000 after purchasing an additional 51,459 shares during the last quarter. Galaxy Digital Inc. purchased a new stake in DeFi Technologies in the first quarter valued at $1,050,000. Cable Car Capital LP acquired a new stake in DeFi Technologies during the 2nd quarter worth about $677,000. Legal & General Group Plc purchased a new stake in shares of DeFi Technologies in the second quarter worth about $185,000. Finally, SEB Asset Management AB purchased a new stake in shares of DeFi Technologies in the first quarter worth about $98,000.

About DeFi Technologies

DeFi Technologies Inc is a Canadian financial technology company focused on digital assets and decentralized finance. Through its operating businesses, the company develops investment products, provides digital-asset infrastructure and trading services, and invests in emerging companies and technologies across the blockchain sector.

Its Valour subsidiary issues exchange-traded products designed to provide investors with exposure to digital assets through regulated stock exchanges. The company also operates Reflexivity Research, which produces research and analysis on blockchain networks and digital assets, and Stillman Digital, which provides institutional trading, liquidity and related services for participants in the digital-asset market.

DeFi Technologies serves institutional and other investors in international markets, with activities spanning North America, Europe and other global regions.