DeFi Technologies Inc. (NASDAQ:DEFT) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is moderately positive: four of five analysts rate DeFi Technologies a buy and one recommends holding, with an average 12-month price target of $2.00.
• Institutional interest has increased: BlackRock, Galaxy Digital, SEB Asset Management and SG Americas Securities recently established positions, while Weiss Asset Management slightly expanded its stake.
• Shares remain highly volatile: DEFT opened at $0.51, compared with a 52-week range of $0.39 to $2.80. The company beat quarterly earnings expectations, reporting $0.01 per share versus the forecasted loss of $0.01, and revenue of $11.19 million.

DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the five analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $2.00.

A number of equities research analysts have recently commented on the company. Benchmark cut their target price on DeFi Technologies from $3.00 to $2.00 and set a "buy" rating on the stock in a research note on Monday, May 18th. Wall Street Zen raised DeFi Technologies from a "strong sell" rating to a "sell" rating in a research report on Monday, June 29th. Finally, Weiss Ratings upgraded shares of DeFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 8th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of DeFi Technologies during the second quarter valued at approximately $82,000. Weiss Asset Management LP increased its position in shares of DeFi Technologies by 0.6% during the first quarter. Weiss Asset Management LP now owns 8,043,428 shares of the company's stock valued at $4,444,000 after acquiring an additional 51,459 shares in the last quarter. Galaxy Digital Inc. purchased a new position in DeFi Technologies in the 1st quarter worth approximately $1,050,000. SEB Asset Management AB purchased a new position in DeFi Technologies in the 1st quarter worth approximately $98,000. Finally, SG Americas Securities LLC bought a new position in DeFi Technologies in the 1st quarter valued at approximately $25,000.

DeFi Technologies Stock Performance

DeFi Technologies stock opened at $0.51 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $197.67 million, a P/E ratio of 5.09 and a beta of 3.92. The stock's 50 day moving average is $0.49 and its 200 day moving average is $0.63. DeFi Technologies has a twelve month low of $0.39 and a twelve month high of $2.80.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.02. DeFi Technologies had a return on equity of 42.24% and a net margin of 56.94%.The company had revenue of $11.19 million during the quarter, compared to analyst estimates of $10.68 million. On average, equities research analysts predict that DeFi Technologies will post -0.01 earnings per share for the current fiscal year.

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.

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.

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