DeFi Technologies Inc. (NASDAQ:DEFT) Receives $2.00 Average PT from Brokerages

Shares of DeFi Technologies Inc. (NASDAQ:DEFT) have been given a consensus recommendation of “Moderate Buy” by the five analysts that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $1.4375.

A number of equities analysts have commented on the stock. Maxim Group cut shares of DeFi Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday. Benchmark lowered their price objective on shares of DeFi Technologies from $2.00 to $1.00 and set a “buy” rating on the stock in a research report on Tuesday. Wall Street Zen downgraded shares of DeFi Technologies to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings upgraded shares of DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 8th. Finally, Northland Securities set a $1.25 target price on DeFi Technologies in a research note on Monday.

Hedge Funds Weigh In On DeFi Technologies

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in DeFi Technologies in the 1st quarter worth approximately $25,000. Commonwealth Equity Services LLC grew 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 valued at $28,000 after acquiring an additional 16,524 shares during the last quarter. Royal Bank of Canada grew 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 valued at $33,000 after acquiring an additional 15,133 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of DeFi Technologies during the third quarter worth approximately $34,000. Finally, CIBC Asset Management Inc purchased a new position in shares of DeFi Technologies during the fourth quarter worth approximately $36,000.

DeFi Technologies Stock Up 10.2%

NASDAQ:DEFT opened at $0.48 on Thursday. The stock has a market cap of $186.96 million, a P/E ratio of 8.03 and a beta of 3.92. The business’s 50-day moving average price is $0.48 and its two-hundred day moving average price is $0.62. DeFi Technologies has a twelve month low of $0.39 and a twelve month high of $2.80.

DeFi Technologies (NASDAQ:DEFT) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.03) 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, equities research analysts expect that DeFi Technologies will post -0.01 EPS for the current fiscal year.

DeFi Technologies Company Profile

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.