DeFi Technologies Inc. (NASDAQ:DEFT) Stock Now Rated "Hold" by Wall Street Analysts

Key Points

• Analysts have a consensus “Hold” rating on DeFi Technologies, with three buys, one hold and one sell among five analysts. The average 12-month price target is $1.44, although recent targets and ratings have been downgraded.
• DEFT shares opened at $0.51, near the lower end of their 52-week range of $0.39 to $2.31. The company’s stock has a market capitalization of approximately $197.6 million and a beta of 4.15.
• DeFi Technologies reported a quarterly loss of $0.03 per share, missing the $0.01-loss consensus estimate. Hedge funds and other institutions have nevertheless continued establishing or increasing positions in the company.

Shares of DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) have been given a consensus rating of "Hold" by the five analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $1.44.

A number of equities research analysts have issued reports on DEFT shares. Weiss Ratings downgraded shares of DeFi Technologies from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, August 21st. Northland Securities set a $1.25 target price on DeFi Technologies in a report on Monday, August 17th. Maxim Group downgraded DeFi Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, August 19th. Wall Street Zen downgraded DeFi Technologies to a "strong sell" rating in a research report on Saturday, August 15th. Finally, Benchmark dropped their price target on DeFi Technologies from $2.00 to $1.00 and set a "buy" rating on the stock in a report on Tuesday, August 18th.

Institutional Investors Weigh In On DeFi Technologies

A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in DeFi Technologies during the first quarter worth about $25,000. Weiss Asset Management LP raised its position in DeFi Technologies by 0.6% in the first quarter. Weiss Asset Management LP now owns 8,043,428 shares of the company's stock worth $4,444,000 after acquiring an additional 51,459 shares during the period. Amundi purchased a new position in DeFi Technologies in the second quarter valued at about $40,000. Visionary Wealth Advisors purchased a new position in DeFi Technologies in the second quarter valued at about $55,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of DeFi Technologies during the 2nd quarter valued at approximately $64,000.

DeFi Technologies Price Performance

NASDAQ DEFT opened at $0.51 on Friday. DeFi Technologies has a 1 year low of $0.39 and a 1 year high of $2.31. The firm has a market cap of $197.62 million, a price-to-earnings ratio of 8.48 and a beta of 4.15. The company has a fifty day moving average price of $0.53 and a 200-day moving average price of $0.59.

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 net margin of 39.65% and a return on equity of 15.43%. On average, research analysts anticipate that DeFi Technologies will post -0.04 EPS for the current fiscal year.

About DeFi Technologies

DeFi Technologies Inc is a Canadian financial technology company focused on connecting traditional capital markets with the digital-asset ecosystem. The company develops and operates businesses intended to provide investors, institutions and other market participants with regulated access to digital assets, decentralized finance and related blockchain technologies.

Through its Valour business, DeFi Technologies issues exchange-traded products that provide exposure to digital assets such as bitcoin, ether and other cryptocurrencies.

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