DeFi Technologies Inc. (NASDAQ:DEFT) Short Interest Down 18.4% in February

DeFi Technologies Inc. (NASDAQ:DEFT) saw a significant decrease in short interest in the month of February. As of February 13th, there was short interest totaling 20,859,504 shares, a decrease of 18.4% from the January 29th total of 25,573,170 shares. Currently, 5.4% of the company’s shares are short sold. Based on an average trading volume of 3,322,952 shares, the short-interest ratio is presently 6.3 days. Based on an average trading volume of 3,322,952 shares, the short-interest ratio is presently 6.3 days. Currently, 5.4% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DEFT. Weiss Ratings reissued a “sell (d-)” rating on shares of DeFi Technologies in a research note on Wednesday, January 21st. Benchmark dropped their target price on shares of DeFi Technologies from $8.00 to $3.00 and set a “buy” rating for the company in a report on Friday, November 21st. Northland Securities set a $2.50 target price on DeFi Technologies in a research report on Monday, November 17th. Finally, Wall Street Zen cut DeFi Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, DeFi Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $4.50.

DeFi Technologies Stock Up 6.6%

Shares of DeFi Technologies stock traded up $0.05 during trading hours on Wednesday, reaching $0.74. 1,295,866 shares of the company were exchanged, compared to its average volume of 3,867,099. The firm has a market cap of $284.01 million, a PE ratio of 14.71 and a beta of 4.38. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.88 and a current ratio of 0.88. DeFi Technologies has a 1 year low of $0.60 and a 1 year high of $4.95. The stock’s fifty day moving average is $0.83 and its 200 day moving average is $1.47.

Hedge Funds Weigh In On DeFi Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC grew its position in shares of DeFi Technologies by 79.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 37,270 shares of the company’s stock worth $28,000 after buying an additional 16,524 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in DeFi Technologies in the second quarter worth approximately $31,000. Jones Financial Companies Lllp grew its holdings in DeFi Technologies by 971.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 15,000 shares of the company’s stock worth $32,000 after acquiring an additional 13,600 shares in the last quarter. Royal Bank of Canada grew its holdings in 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 acquiring an additional 15,133 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of DeFi Technologies in the 3rd quarter valued at approximately $34,000.

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.