DeFi Technologies (OTC:DEFTF) Stock Price Up 20% – Should You Buy?

Shares of DeFi Technologies Inc. (OTC:DEFTF) shot up 20% during mid-day trading on Friday . The stock traded as high as $3.99 and last traded at $3.9835. 2,429,100 shares were traded during mid-day trading, an increase of 174% from the average session volume of 885,116 shares. The stock had previously closed at $3.32.

Wall Street Analysts Forecast Growth

Separately, Benchmark reiterated a “buy” rating on shares of DeFi Technologies in a report on Friday, November 21st. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

DeFi Technologies Price Performance

The firm has a market capitalization of $1.30 billion and a price-to-earnings ratio of 19.92. The business’s fifty day simple moving average is $3.98 and its 200 day simple moving average is $3.98.

DeFi Technologies Company Profile

DeFi Technologies Inc, a technology company, develops and lists exchange traded products in Canada, Bermuda, and the Cayman Islands. The company provides asset management services, such as investment vehicles, indirect exposure to underlying cryptocurrencies, digital asset indexes, and other decentralized finance instruments. It also participates in decentralized blockchain networks by processing data transactions that contribute to network security and stability, governance, and transaction validation.