DeFi Technologies (NASDAQ:DEFT) Stock Rating Lowered by Wall Street Zen

DeFi Technologies (NASDAQ:DEFT) was downgraded by investment analysts at Wall Street Zen to a “strong sell” rating in a note issued to investors on Saturday.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings upgraded shares of DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 8th. Benchmark dropped their target price 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. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, DeFi Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $2.00.

DeFi Technologies Stock Performance

Shares of DEFT opened at $0.49 on Friday. The firm has a market cap of $189.95 million, a PE ratio of 8.16 and a beta of 3.92. DeFi Technologies has a 12 month low of $0.39 and a 12 month high of $2.80. The stock has a fifty day moving average price of $0.49 and a 200-day moving average price of $0.63.

DeFi Technologies (NASDAQ:DEFT) last announced its earnings results on Thursday, August 13th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). DeFi Technologies had a return on equity of 15.43% and a net margin of 39.65%. As a group, research analysts forecast that DeFi Technologies will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DEFT. Hudson Bay Capital Management LP purchased a new position in shares of DeFi Technologies in the second quarter worth about $41,000. Caitong International Asset Management Co. Ltd purchased a new stake in DeFi Technologies in the third quarter valued at approximately $34,000. Shay Capital LLC acquired a new position in DeFi Technologies in the 2nd quarter worth approximately $50,000. Lazard Asset Management LLC acquired a new position in DeFi Technologies in the 2nd quarter worth approximately $51,000. Finally, Captrust Financial Advisors acquired a new position in DeFi Technologies in the 2nd quarter worth approximately $57,000.

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.