DeFi Technologies (NASDAQ:DEFT) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of DeFi Technologies (NASDAQ:DEFT) from a hold rating to a sell rating in a research note released on Sunday morning.

A number of other analysts have also commented on DEFT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DeFi Technologies in a research note on Wednesday, October 8th. Benchmark cut their price target on shares of 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 reaffirmed a “buy” rating and issued a $5.50 price objective on shares of DeFi Technologies in a research note on Friday, September 26th. Finally, Northland Securities set a $2.50 price objective on shares of DeFi Technologies in a research report on Monday, November 17th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4.50.

DeFi Technologies Stock Performance

Shares of DEFT opened at $1.64 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.88 and a quick ratio of 0.88. DeFi Technologies has a 12-month low of $0.91 and a 12-month high of $4.95. The business’s fifty day moving average price is $1.84 and its 200 day moving average price is $2.50. The stock has a market capitalization of $633.12 million, a PE ratio of 32.85 and a beta of 3.83.

DeFi Technologies (NASDAQ:DEFT) last announced its earnings results on Friday, November 14th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate 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.

Institutional Trading of DeFi Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DEFT. Cable Car Capital LP bought a new position in shares of DeFi Technologies during the 3rd quarter worth about $10,871,000. Marshall Wace LLP lifted its stake in DeFi Technologies by 128.0% during the third quarter. Marshall Wace LLP now owns 4,384,356 shares of the company’s stock worth $9,251,000 after purchasing an additional 2,461,204 shares during the period. Millennium Management LLC lifted its stake in DeFi Technologies by 3,123.1% during the third quarter. Millennium Management LLC now owns 2,867,227 shares of the company’s stock worth $5,980,000 after purchasing an additional 2,778,268 shares during the period. Rathbones Group PLC acquired a new stake in DeFi Technologies during the second quarter valued at approximately $8,789,000. Finally, Bank of Montreal Can bought a new stake in shares of DeFi Technologies in the 2nd quarter valued at approximately $7,891,000.

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.