DeFi Technologies (NASDAQ:DEFT) Shares Gap Up – Time to Buy?

DeFi Technologies Inc. (NASDAQ:DEFT)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $1.29, but opened at $1.40. DeFi Technologies shares last traded at $1.4050, with a volume of 1,625,572 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on DEFT shares. Northland Securities set a $2.50 target price on DeFi Technologies in a research report on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DeFi Technologies in a research report on Wednesday, October 8th. Benchmark lowered their price target on DeFi Technologies from $8.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, November 21st. 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. Finally, Wall Street Zen lowered DeFi Technologies from a “hold” rating to a “sell” rating in a research report on Sunday. 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.50.

DeFi Technologies Price Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $537.88 million, a price-to-earnings ratio of 27.91 and a beta of 3.83. The stock’s 50 day simple moving average is $1.82 and its 200-day simple moving average is $2.48.

DeFi Technologies (NASDAQ:DEFT) last released its quarterly earnings results on Friday, November 14th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The business had revenue of $22.53 million for the quarter, compared to the consensus estimate of $41.00 million. DeFi Technologies had a net margin of 23.89% and a return on equity of 105.69%. DeFi Technologies has set its FY 2025 guidance at EPS.

Hedge Funds Weigh In On DeFi Technologies

Institutional investors have recently modified their holdings of the company. WNY Asset Management LLC acquired a new stake in shares of DeFi Technologies in the second quarter worth $29,000. OMERS ADMINISTRATION Corp bought a new position in DeFi Technologies in the 2nd quarter worth $31,000. Jones Financial Companies Lllp raised its holdings in DeFi Technologies by 971.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 15,000 shares of the company’s stock worth $32,000 after acquiring an additional 13,600 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in DeFi Technologies during the 3rd quarter worth $34,000. Finally, HighMark Wealth Management LLC bought a new stake in DeFi Technologies during the second quarter valued at about $35,000.

About DeFi Technologies

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.