DeFi Technologies Inc. (NASDAQ:DEFT) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• DeFi Technologies has a consensus analyst rating of “Moderate Buy”, with four buy ratings and one hold rating among the five brokerages covering the stock. The average 1-year price target is $2.00.
• Recent analyst moves were mixed: Maxim Group and Benchmark both cut their price targets while maintaining buy ratings, while Weiss Ratings and Wall Street Zen made small downgrades in sentiment.
• The stock was trading near its 52-week low at $0.42, yet the company recently reported better-than-expected quarterly results with earnings and revenue both beating estimates.

Shares of DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the five brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $2.00.

A number of analysts have recently commented on DEFT shares. Maxim Group lowered their target price on DeFi Technologies from $2.00 to $1.50 and set a "buy" rating on the stock in a research note on Monday, April 13th. Benchmark reduced their price target on DeFi Technologies from $3.00 to $2.00 and set a "buy" rating for the company in a research report on Monday, May 18th. Weiss Ratings raised DeFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 8th. B. Riley Financial restated a "buy" rating on shares of DeFi Technologies in a research report on Wednesday, April 8th. Finally, Wall Street Zen raised shares of DeFi Technologies from a "strong sell" rating to a "sell" rating in a research note on Monday, June 29th.

Institutional Trading of DeFi Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DEFT. SG Americas Securities LLC purchased a new position in DeFi Technologies in the first quarter valued at $25,000. Commonwealth Equity Services LLC boosted its stake in shares of DeFi Technologies by 79.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 37,270 shares of the company's stock worth $28,000 after acquiring an additional 16,524 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of DeFi Technologies by 54.5% during the 4th quarter. Royal Bank of Canada now owns 42,900 shares of the company's stock worth $33,000 after acquiring an additional 15,133 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of DeFi Technologies during the 3rd quarter valued at about $34,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of DeFi Technologies during the 4th quarter valued at about $36,000.

DeFi Technologies Trading Up 0.5%

Shares of NASDAQ:DEFT opened at $0.42 on Friday. 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 business has a 50-day moving average price of $0.58 and a 200-day moving average price of $0.70. DeFi Technologies has a 52-week low of $0.41 and a 52-week high of $3.47. The stock has a market cap of $164.92 million, a price-to-earnings ratio of 4.25 and a beta of 3.81.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company had revenue of $11.19 million for the quarter, compared to the consensus estimate of $10.68 million. DeFi Technologies had a return on equity of 42.24% and a net margin of 56.94%. Equities analysts predict that DeFi Technologies will post -0.01 EPS for the current 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.

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