DeFi Technologies (OTC:DEFTF) Trading Up 20% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

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

DeFi Technologies Stock Performance

The stock has a fifty day simple moving average of $3.98 and a two-hundred day simple moving average of $3.98. The stock has a market cap of $1.30 billion and a price-to-earnings ratio of 19.92.

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.