DeFi Technologies (NASDAQ:DEFT) Announces Quarterly Earnings Results

DeFi Technologies (NASDAQ:DEFT) posted its quarterly earnings results on Thursday. The company reported $0.08 earnings per share (EPS) for the quarter, Zacks reports. The business had revenue of $19.08 million for the quarter. DeFi Technologies had a return on equity of 105.69% and a net margin of 23.89%.

DeFi Technologies Trading Up 3.4%

Shares of DEFT opened at $0.71 on Friday. The firm’s 50-day moving average price is $0.69 and its 200-day moving average price is $1.25. The firm has a market capitalization of $276.22 million, a price-to-earnings ratio of 14.25 and a beta of 4.24. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.02. DeFi Technologies has a 1-year low of $0.47 and a 1-year high of $4.95.

Institutional Trading of DeFi Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its position in DeFi Technologies by 416.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,329,284 shares of the company’s stock valued at $5,531,000 after acquiring an additional 5,909,228 shares in the last quarter. Cable Car Capital LP purchased a new position in shares of DeFi Technologies during the 3rd quarter worth approximately $10,871,000. Millennium Management LLC raised its position in shares of DeFi Technologies by 103.6% in the 4th quarter. Millennium Management LLC now owns 5,836,397 shares of the company’s stock worth $4,404,000 after acquiring an additional 2,969,170 shares in the last quarter. Marshall Wace LLP raised its position in shares of DeFi Technologies by 128.0% in the 3rd quarter. Marshall Wace LLP now owns 4,384,356 shares of the company’s stock worth $9,251,000 after acquiring an additional 2,461,204 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of DeFi Technologies by 141.4% in the 4th quarter. Invesco Ltd. now owns 2,140,354 shares of the company’s stock valued at $1,615,000 after purchasing an additional 1,253,690 shares during the period.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wall Street Zen downgraded DeFi Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DeFi Technologies in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.50.

DeFi Technologies Company Profile

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.