DeFi Technologies Inc. (NASDAQ:DEFT) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• DeFi Technologies has a consensus “Hold” rating from five analysts: three buys, one hold and one sell. The average 12-month price target is $1.4375.
• Analyst sentiment has weakened, with Benchmark cutting its price target to $1.00, while Maxim Group, Weiss Ratings and Wall Street Zen downgraded the stock to hold, sell or strong sell.
• Shares opened at $0.68 and remain highly volatile, trading between $0.39 and $2.80 over the past year. The company also reported a quarterly loss of $0.03 per share, missing expectations by $0.02.

DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) has been assigned an average rating of "Hold" from the five analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $1.4375.

Several analysts recently weighed in on the company. Benchmark reduced their price objective on DeFi Technologies from $2.00 to $1.00 and set a "buy" rating on the stock in a research note on Tuesday, August 18th. Maxim Group cut shares of DeFi Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, August 19th. Weiss Ratings downgraded shares of DeFi Technologies from a "hold (c)" rating to a "sell (d+)" rating in a research note on Friday, August 21st. Wall Street Zen lowered shares of DeFi Technologies to a "strong sell" rating in a report on Saturday, August 15th. Finally, Northland Securities set a $1.25 price objective on shares of DeFi Technologies in a research report on Monday, August 17th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of DeFi Technologies during the 1st quarter valued at $25,000. Commonwealth Equity Services LLC raised its position in DeFi Technologies by 79.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 37,270 shares of the company's stock valued at $28,000 after purchasing an additional 16,524 shares during the last quarter. Royal Bank of Canada raised its position in DeFi Technologies by 54.5% in the fourth 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 last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of DeFi Technologies during the third quarter valued at about $34,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of DeFi Technologies during the fourth quarter valued at about $36,000.

DeFi Technologies Price Performance

Shares of DEFT opened at $0.68 on Monday. DeFi Technologies has a one year low of $0.39 and a one year high of $2.80. The company has a market cap of $265.07 million, a P/E ratio of 11.39 and a beta of 4.06. The firm has a 50 day simple moving average of $0.50 and a two-hundred day simple moving average of $0.61.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.02). DeFi Technologies had a net margin of 39.65% and a return on equity of 15.43%. On average, analysts expect that DeFi Technologies will post -0.03 earnings per share for the current fiscal year.

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.

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