DeFi Technologies Inc. (DEFT) - What Are Investment Firms Saying About This Stock?

Key Points

• Analysts have a “Moderate Buy” consensus on DeFi Technologies, with three buy ratings and two holds. The average 12-month price target is $1.44, although Benchmark recently cut its target to $1.00 and Maxim downgraded the stock to hold.
• DEFT shares opened at $0.39, near their 12-month low of $0.39 and well below the 12-month high of $2.13. The stock has a beta of 4.14, indicating substantial volatility.
• The company reported a quarterly loss of $0.03 per share, missing the $0.01 loss expected by analysts. Several institutional investors recently established or increased positions, including Galaxy Digital, Cable Car Capital and Weiss Asset Management.

DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) has been given an average recommendation of "Moderate Buy" by the five research firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $1.44.

A number of equities analysts have recently issued reports on DEFT shares. Maxim Group downgraded DeFi Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, August 19th. Weiss Ratings upgraded DeFi Technologies from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, October 8th. Wall Street Zen cut DeFi Technologies to a "strong sell" rating in a report on Saturday, August 15th. Northland Securities set a $1.25 target price on shares of DeFi Technologies in a research report on Monday, August 17th. Finally, Benchmark lowered their price target on shares of DeFi Technologies from $2.00 to $1.00 and set a "buy" rating for the company in a report on Tuesday, August 18th.

Institutional Investors Weigh In On DeFi Technologies

A number of institutional investors have recently modified their holdings of the company. Weiss Asset Management LP raised its stake in DeFi Technologies by 0.6% during the first quarter. Weiss Asset Management LP now owns 8,043,428 shares of the company's stock worth $4,444,000 after buying an additional 51,459 shares during the last quarter. Galaxy Digital Inc. acquired a new position in DeFi Technologies in the first quarter valued at $1,050,000. Cable Car Capital LP bought a new stake in DeFi Technologies during the second quarter valued at $677,000. Legal & General Group Plc bought a new stake in DeFi Technologies during the second quarter valued at $185,000. Finally, SEB Asset Management AB acquired a new stake in DeFi Technologies during the 1st quarter worth about $98,000.

DeFi Technologies Stock Down 3.5%

Shares of NASDAQ:DEFT opened at $0.39 on Tuesday. The firm has a market cap of $151.42 million, a P/E ratio of 6.50 and a beta of 4.14. DeFi Technologies has a 12-month low of $0.39 and a 12-month high of $2.13. The business has a fifty day simple moving average of $0.53 and a 200 day simple moving average of $0.63.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.03) EPS 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, equities research analysts expect that DeFi Technologies will post -0.04 EPS for the current year.

DeFi Technologies Company Profile

DeFi Technologies Inc is a Canadian financial technology company focused on digital assets and decentralized finance. Through its operating businesses, the company develops investment products, provides digital-asset infrastructure and trading services, and invests in emerging companies and technologies across the blockchain sector.

Its Valour subsidiary issues exchange-traded products designed to provide investors with exposure to digital assets through regulated stock exchanges. The company also operates Reflexivity Research, which produces research and analysis on blockchain networks and digital assets, and Stillman Digital, which provides institutional trading, liquidity and related services for participants in the digital-asset market.

DeFi Technologies serves institutional and other investors in international markets, with activities spanning North America, Europe and other global regions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.