DeFi Technologies Inc. (NASDAQ:DEFT) Receives Average Recommendation of “Hold” from Analysts

Shares of DeFi Technologies Inc. (NASDAQ:DEFT) have earned an average rating of “Hold” from the five research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $1.4375.

A number of equities analysts have recently commented on the company. Weiss Ratings lowered DeFi Technologies from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Northland Securities set a $1.25 price objective on shares of DeFi Technologies in a research note on Monday, August 17th. Maxim Group downgraded DeFi Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Benchmark cut their price target on shares of DeFi Technologies from $2.00 to $1.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. Finally, Wall Street Zen lowered DeFi Technologies to a “strong sell” rating in a research report on Saturday, August 15th.

Hedge Funds Weigh In On DeFi Technologies

Large investors have recently modified their holdings of the stock. Hudson Bay Capital Management LP acquired a new position in shares of DeFi Technologies during the second quarter valued at $41,000. Royal Bank of Canada boosted its stake 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 during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of DeFi Technologies in the 3rd quarter valued at $34,000. Commonwealth Equity Services LLC grew its stake in 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 period. Finally, Shay Capital LLC acquired a new position in shares of DeFi Technologies in the 2nd quarter valued at approximately $50,000.

DeFi Technologies Stock Performance

Shares of DEFT stock opened at $0.58 on Monday. DeFi Technologies has a twelve month low of $0.39 and a twelve month high of $2.80. The company has a market capitalization of $223.83 million, a price-to-earnings ratio of 9.61 and a beta of 4.06. The stock’s 50 day simple moving average is $0.51 and its 200 day simple moving average is $0.61.

DeFi Technologies (NASDAQ:DEFT) last posted its quarterly earnings data 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 return on equity of 15.43% and a net margin of 39.65%. On average, analysts forecast that DeFi Technologies will post -0.04 EPS for the current fiscal year.

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.