Wall Street Zen Downgrades DeFi Technologies (NASDAQ:DEFT) to Sell

DeFi Technologies (NASDAQ:DEFT) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other equities analysts also recently commented on DEFT. Benchmark reduced their price objective 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 price target on shares of DeFi Technologies in a research report on Monday, November 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of DeFi Technologies in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, DeFi Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $4.50.

DeFi Technologies Price Performance

Shares of DEFT stock opened at $0.80 on Friday. DeFi Technologies has a 12 month low of $0.68 and a 12 month high of $4.95. The company has a market capitalization of $308.07 million, a P/E ratio of 15.96 and a beta of 4.36. The stock has a 50 day moving average of $0.98 and a two-hundred day moving average of $1.71. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.02.

DeFi Technologies (NASDAQ:DEFT) last issued its earnings results on Friday, November 14th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). DeFi Technologies had a net margin of 23.89% and a return on equity of 105.69%. The firm had revenue of $22.53 million during the quarter, compared to analyst estimates of $41.00 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Griffin Asset Management Inc. bought a new stake in DeFi Technologies during the 4th quarter worth approximately $37,000. Western Wealth Management LLC boosted its stake in DeFi Technologies by 23.5% in the fourth quarter. Western Wealth Management LLC now owns 163,190 shares of the company’s stock worth $123,000 after purchasing an additional 31,000 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new position in DeFi Technologies in the third quarter worth $1,652,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of DeFi Technologies during the third quarter worth $34,000. Finally, Prelude Capital Management LLC acquired a new stake in shares of DeFi Technologies in the third quarter valued at $87,000.

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.