DeFi Technologies (NASDAQ:DEFT) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of DeFi Technologies (NASDAQ:DEFT) from a hold rating to a sell rating in a research note published on Saturday.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DeFi Technologies in a report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $5.50 target price on shares of DeFi Technologies in a research report on Friday, September 26th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.25.

DeFi Technologies Stock Down 1.0%

DEFT opened at $1.89 on Friday. DeFi Technologies has a fifty-two week low of $1.50 and a fifty-two week high of $4.95. The firm has a fifty day moving average price of $2.18. The stock has a market capitalization of $642.89 million, a PE ratio of 21.00 and a beta of 3.65.

DeFi Technologies (NASDAQ:DEFT) last released its quarterly earnings data on Thursday, August 14th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). DeFi Technologies had a net margin of 43.38% and a return on equity of 137.53%. The firm had revenue of $13.42 million during the quarter, compared to analysts’ expectations of $42.08 million.

Institutional Trading of DeFi Technologies

Several hedge funds have recently made changes to their positions in DEFT. WNY Asset Management LLC acquired a new stake in DeFi Technologies during the 2nd quarter worth approximately $29,000. OMERS ADMINISTRATION Corp acquired a new stake in DeFi Technologies during the 2nd quarter worth approximately $31,000. HighMark Wealth Management LLC acquired a new stake in DeFi Technologies during the 2nd quarter worth approximately $35,000. Brookstone Capital Management acquired a new stake in DeFi Technologies during the 2nd quarter worth approximately $37,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in DeFi Technologies during the 2nd quarter worth approximately $39,000.

About DeFi Technologies

DeFi Technologies, Inc engages in the provision of investment services. It plans to acquire equity, debt, or other securities of publicly traded or private companies or other entities. The firm offers DeFi ETNs, DeFi Governance, DeFi Venture and DeFi Treasury. The company was founded by Olivier Francois Roussy Newton and Wouter Witvoet on April 14, 1986 and is headquartered in Toronto, Canada.