DeFi Technologies Inc. (NASDAQ:DEFT) Sees Large Drop in Short Interest

Key Points

• Short interest fell 19.0% in February to 16,891,402 shares (about 4.4% of shares short), leaving a short‑interest ratio of roughly 6.6 days.
• Shares are trading near $0.64 with a 50‑day / 200‑day moving average of $0.81 / $1.39 and a 12‑month range of $0.60–$4.95; market cap is about $249.7M, P/E 12.88 and beta 4.38.
• Analyst and institutional activity is mixed: the consensus rating is a "Moderate Buy" with a $4.50 target despite recent downgrades and target cuts, while several funds have initiated small positions.

DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) was the target of a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 16,891,402 shares, a decline of 19.0% from the February 12th total of 20,859,504 shares. Currently, 4.4% of the shares of the company are short sold. Based on an average daily trading volume, of 2,551,123 shares, the short-interest ratio is presently 6.6 days. Based on an average daily trading volume, of 2,551,123 shares, the short-interest ratio is presently 6.6 days. Currently, 4.4% of the shares of the company are short sold.

DeFi Technologies Stock Up 0.6%

Shares of NASDAQ DEFT opened at $0.64 on Friday. The stock has a 50-day moving average price of $0.81 and a two-hundred day moving average price of $1.39. DeFi Technologies has a 12 month low of $0.60 and a 12 month high of $4.95. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.02. The company has a market cap of $249.65 million, a price-to-earnings ratio of 12.88 and a beta of 4.38.

Institutional Trading of DeFi Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. OMERS ADMINISTRATION Corp bought a new position in shares of DeFi Technologies in the 2nd quarter valued at $31,000. Steward Partners Investment Advisory LLC bought a new stake in DeFi Technologies during the 2nd quarter worth $39,000. Hudson Bay Capital Management LP acquired a new position in DeFi Technologies in the 2nd quarter worth about $41,000. Allworth Financial LP acquired a new position in DeFi Technologies in the 2nd quarter worth about $44,000. Finally, Jones Financial Companies Lllp raised its position in DeFi Technologies by 971.4% in the third quarter. Jones Financial Companies Lllp now owns 15,000 shares of the company's stock valued at $32,000 after purchasing an additional 13,600 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on DEFT shares. Wall Street Zen downgraded shares of DeFi Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, February 7th. Benchmark reduced their target price on shares of DeFi Technologies from $8.00 to $3.00 and set a "buy" rating for the company in a research report on Friday, November 21st. Northland Securities set a $2.50 price target on shares of DeFi Technologies in a research report on Monday, November 17th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of DeFi Technologies in a report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $4.50.

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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