DeFi Technologies (NASDAQ:DEFT) Hits New 52-Week Low – Here’s Why

DeFi Technologies Inc. (NASDAQ:DEFT)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $1.50 and last traded at $1.5050, with a volume of 3874586 shares traded. The stock had previously closed at $1.60.

Wall Street Analyst Weigh In

DEFT has been the subject of a number of research reports. Wall Street Zen lowered DeFi Technologies from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of DeFi Technologies in a report on Wednesday, October 8th. Finally, HC Wainwright reissued a “buy” rating and set a $5.50 price target on shares of DeFi Technologies in a research report on Friday, September 26th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.25.

DeFi Technologies Trading Down 6.6%

The company has a market cap of $508.53 million, a P/E ratio of 16.61 and a beta of 3.58. The business’s 50 day moving average price is $2.12.

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

Institutional Trading of DeFi Technologies

A number of institutional investors have recently made changes to their positions in DEFT. WNY Asset Management LLC acquired a new position in DeFi Technologies during the 2nd quarter valued at about $29,000. OMERS ADMINISTRATION Corp acquired a new position in shares of DeFi Technologies during the second quarter valued at about $31,000. HighMark Wealth Management LLC purchased a new position in shares of DeFi Technologies in the 2nd quarter valued at approximately $35,000. Brookstone Capital Management acquired a new stake in DeFi Technologies in the 2nd quarter worth approximately $37,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in DeFi Technologies in the 2nd quarter worth approximately $39,000.

DeFi Technologies Company Profile

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.