DeFi Technologies Inc. (NASDAQ:DEFT) Sees Large Drop in Short Interest

DeFi Technologies Inc. (NASDAQ:DEFT) saw a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 16,891,402 shares, a decline of 19.0% from the February 12th total of 20,859,504 shares. Currently, 4.4% of the company’s shares are sold short. Based on an average daily volume of 2,551,123 shares, the short-interest ratio is presently 6.6 days. Based on an average daily volume of 2,551,123 shares, the short-interest ratio is presently 6.6 days. Currently, 4.4% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

DEFT has been the topic of several recent research reports. Northland Securities set a $2.50 target price on shares of DeFi Technologies in a research report on Monday, November 17th. Benchmark dropped their price target on shares of DeFi Technologies from $8.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of DeFi Technologies in a report on Wednesday, January 21st. Finally, Wall Street Zen downgraded DeFi Technologies from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4.50.

DeFi Technologies Stock Performance

NASDAQ:DEFT opened at $0.64 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.88 and a current ratio of 0.88. DeFi Technologies has a fifty-two week low of $0.60 and a fifty-two week high of $4.95. The company has a 50 day simple moving average of $0.81 and a two-hundred day simple moving average of $1.39. The company has a market capitalization of $249.65 million, a PE ratio of 12.88 and a beta of 4.38.

Institutional Investors Weigh In On DeFi Technologies

Several large investors have recently modified their holdings of DEFT. Commonwealth Equity Services LLC raised its stake in DeFi Technologies by 79.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 37,270 shares of the company’s stock worth $28,000 after buying an additional 16,524 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in DeFi Technologies during the 2nd quarter worth about $31,000. Jones Financial Companies Lllp raised its position in shares of 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 in the last quarter. Royal Bank of Canada lifted its stake in shares of DeFi Technologies by 54.5% in the 4th quarter. Royal Bank of Canada now owns 42,900 shares of the company’s stock valued at $33,000 after purchasing an additional 15,133 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in DeFi Technologies during the third quarter worth approximately $34,000.

About DeFi Technologies

DeFi Technologies Inc is a Vancouver-based company focused on decentralized finance (DeFi) and digital asset investments. Through strategic equity stakes and token allocations, the company aims to provide investors with exposure to leading DeFi protocols, applications, and infrastructure projects. Its core activities include sourcing, evaluating and acquiring positions in blockchain-based platforms that facilitate decentralized lending, trading, yield farming and liquidity provision.

In addition to its investment portfolio, DeFi Technologies works to develop and distribute tokenized products that bridge traditional capital markets with emerging DeFi ecosystems.