DeFi Technologies (NASDAQ:DEFT) Sees Unusually-High Trading Volume – Still a Buy?

DeFi Technologies Inc. (NASDAQ:DEFT) shares saw unusually-strong trading volume on Friday . Approximately 2,531,243 shares changed hands during trading, a decline of 16% from the previous session’s volume of 3,010,469 shares.The stock last traded at $2.19 and had previously closed at $2.21.

Analyst Ratings Changes

Several equities research analysts have issued reports on DEFT shares. Wall Street Zen cut DeFi Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. HC Wainwright reissued a “buy” rating and set a $5.50 target price on shares of DeFi Technologies in a research note on Friday, September 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of DeFi Technologies in a research note on Saturday, September 27th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.25.

DeFi Technologies Price Performance

The company has a market cap of $748.33 million, a PE ratio of 24.44 and a beta of 3.65. The stock’s fifty day simple moving average is $2.37.

DeFi Technologies (NASDAQ:DEFT) last announced its quarterly earnings results 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 business had revenue of $13.42 million for 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 bought and sold shares of DEFT. Wealth Enhancement Advisory Services LLC purchased a new stake in DeFi Technologies during the 2nd quarter worth about $76,000. Public Employees Retirement System of Ohio purchased a new stake in DeFi Technologies during the 2nd quarter worth about $196,000. Novem Group purchased a new stake in DeFi Technologies during the 2nd quarter worth about $43,000. HighMark Wealth Management LLC purchased a new stake in DeFi Technologies during the 2nd quarter worth about $35,000. Finally, Capital Advisors Inc. OK purchased a new stake in DeFi Technologies during the 2nd quarter worth about $88,000.

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.