DeFi Technologies (NASDAQ:DEFT) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen lowered shares of DeFi Technologies (NASDAQ:DEFTFree Report) to a strong sell rating in a research report released on Saturday.

Several other analysts also recently issued reports on DEFT. Benchmark decreased their price objective on shares of DeFi Technologies from $3.00 to $2.00 and set a “buy” rating for the company in a report on Monday, May 18th. Weiss Ratings upgraded shares of DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 8th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $2.00.

Read Our Latest Stock Analysis on DeFi Technologies

DeFi Technologies Stock Up 1.8%

DEFT opened at $0.49 on Friday. The business has a 50 day moving average price of $0.49 and a 200 day moving average price of $0.63. DeFi Technologies has a twelve month low of $0.39 and a twelve month high of $2.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $189.95 million, a P/E ratio of 8.16 and a beta of 3.92.

DeFi Technologies (NASDAQ:DEFTGet Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). DeFi Technologies had a return on equity of 15.47% and a net margin of 39.65%. Research analysts forecast that DeFi Technologies will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of DeFi Technologies in the first quarter valued at approximately $25,000. Commonwealth Equity Services LLC increased its position in 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 acquiring an additional 16,524 shares during the period. Royal Bank of Canada increased its position in DeFi Technologies by 54.5% during the fourth 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 period. Caitong International Asset Management Co. Ltd acquired a new position in DeFi Technologies during the 3rd quarter valued at $34,000. Finally, CIBC Asset Management Inc acquired a new position in DeFi Technologies during the 4th quarter valued at $36,000.

DeFi Technologies Company Profile

(Get Free Report)

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.

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