DeFi Technologies' (DEFT) Buy Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright has reaffirmed a "buy" rating for DeFi Technologies (DEFT) and set a price target of $5.50, indicating a potential upside of 158.22% from the stock's current price.
• Contrastingly, Wall Street Zen downgraded DeFi Technologies from a "hold" to a "sell" rating, reflecting mixed analyst sentiments.
• DeFi Technologies reported missed earnings for the last quarter, with an earnings per share of $0.05, falling short of analyst expectations of $0.07.

DeFi Technologies (NASDAQ:DEFT - Get Free Report)'s stock had its "buy" rating restated by research analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $5.50 price target on the stock. HC Wainwright's price target would suggest a potential upside of 158.22% from the stock's current price.

Separately, Wall Street Zen downgraded DeFi Technologies from a "hold" rating to a "sell" rating in a report on Friday, September 5th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, DeFi Technologies currently has an average rating of "Buy" and an average price target of $6.25.

DeFi Technologies Stock Performance

Shares of DEFT stock opened at $2.13 on Friday. DeFi Technologies has a 1-year low of $1.50 and a 1-year high of $4.95. The company's 50-day moving average is $2.49. The company has a market capitalization of $722.73 million, a P/E ratio of 23.67 and a beta of 3.86.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). DeFi Technologies had a net margin of 43.38% and a return on equity of 137.53%. The company had revenue of $13.42 million for the quarter, compared to the consensus estimate of $42.08 million.

Institutional Investors Weigh In On DeFi Technologies

Institutional investors have recently added to or reduced their stakes in the business. WNY Asset Management LLC purchased a new position in shares of DeFi Technologies in the second quarter worth about $29,000. OMERS ADMINISTRATION Corp purchased a new position in shares of DeFi Technologies in the second quarter worth about $31,000. HighMark Wealth Management LLC purchased a new position in shares of DeFi Technologies in the second quarter worth about $35,000. Brookstone Capital Management purchased a new position in shares of DeFi Technologies in the second quarter worth about $37,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of DeFi Technologies in the second quarter worth about $39,000.

About DeFi Technologies

DeFi Technologies, Inc engages in the provision of investment services. It plans to acquire equity, debt, or other securities of publicly traded or private companies or other entities. The firm offers DeFi ETNs, DeFi Governance, DeFi Venture and DeFi Treasury. The company was founded by Olivier Francois Roussy Newton and Wouter Witvoet on April 14, 1986 and is headquartered in Toronto, Canada.

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