1,900,000 Shares in DeFi Technologies Inc. $DEFT Acquired by Galaxy Digital Inc.

Galaxy Digital Inc. acquired a new stake in DeFi Technologies Inc. (NASDAQ:DEFT) in the 1st quarter, Holdings Channel.com reports. The fund acquired 1,900,000 shares of the company’s stock, valued at approximately $1,050,000.

A number of other institutional investors have also recently modified their holdings of DEFT. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 worth $5,531,000 after purchasing an additional 5,909,228 shares in the last quarter. Millennium Management LLC raised its stake in DeFi Technologies by 103.6% in the fourth quarter. Millennium Management LLC now owns 5,836,397 shares of the company’s stock valued at $4,404,000 after purchasing an additional 2,969,170 shares in the last quarter. Cable Car Capital LP acquired a new position in DeFi Technologies in the third quarter valued at about $10,871,000. Marshall Wace LLP lifted its position 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. Finally, Invesco Ltd. lifted its position in DeFi Technologies by 141.4% during the fourth quarter. Invesco Ltd. now owns 2,140,354 shares of the company’s stock worth $1,615,000 after purchasing an additional 1,253,690 shares during the period.

Wall Street Analyst Weigh In

Several analysts recently issued reports on DEFT shares. Benchmark reduced their price target on shares of DeFi Technologies from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Weiss Ratings upgraded shares of DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 8th. B. Riley Financial restated a “buy” rating on shares of DeFi Technologies in a research note on Wednesday, April 8th. Wall Street Zen raised DeFi Technologies from a “strong sell” rating to a “sell” rating in a report on Monday, June 29th. Finally, Maxim Group decreased their price target on DeFi Technologies from $2.00 to $1.50 and set a “buy” rating on the stock in a research note on Monday, April 13th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, DeFi Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $2.00.

DeFi Technologies Stock Performance

Shares of DeFi Technologies stock opened at $0.39 on Friday. The company’s 50 day moving average price is $0.54 and its two-hundred day moving average price is $0.69. The firm has a market capitalization of $153.12 million, a P/E ratio of 3.95 and a beta of 3.81. DeFi Technologies Inc. has a fifty-two week low of $0.39 and a fifty-two week high of $3.02. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.10 and a quick ratio of 1.10.

DeFi Technologies (NASDAQ:DEFT) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company had revenue of $11.19 million during the quarter, compared to the consensus estimate of $10.68 million. DeFi Technologies had a net margin of 56.94% and a return on equity of 42.24%. On average, equities analysts forecast that DeFi Technologies Inc. will post -0.01 earnings per share for the current fiscal year.

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.