DeFi Technologies (NASDAQ:DEFT) Announces Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• DeFi Technologies reported a quarterly earnings per share (EPS) of $0.05, missing the analysts' estimates of $0.07 by $0.02.
• The company’s stock increased by 3.6% to $2.61, despite the earnings miss, with a market capitalization of $881.68 million and a PE ratio of 6.81.
• Multiple institutional investors have recently bought shares in DeFi Technologies, with notable purchases from Marshall Wace LLP and Invesco Ltd..

DeFi Technologies (NASDAQ:DEFT - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02), Zacks reports. DeFi Technologies had a net margin of 62.45% and a return on equity of 171.79%.

DeFi Technologies Stock Up 3.6%

NASDAQ DEFT traded up $0.09 on Thursday, reaching $2.61. The company had a trading volume of 3,794,308 shares, compared to its average volume of 5,108,820. The stock has a market capitalization of $881.68 million, a PE ratio of 6.81 and a beta of 3.93. The business has a fifty day moving average price of $2.94. DeFi Technologies has a 52-week low of $1.50 and a 52-week high of $4.95.

Institutional Investors Weigh In On DeFi Technologies

Hedge funds have recently modified their holdings of the stock. Marshall Wace LLP bought a new position in DeFi Technologies in the second quarter valued at $5,635,000. Invesco Ltd. purchased a new position in shares of DeFi Technologies in the 2nd quarter worth about $3,266,000. Jane Street Group LLC bought a new position in shares of DeFi Technologies during the 2nd quarter valued at about $1,321,000. Geode Capital Management LLC bought a new position in shares of DeFi Technologies during the 2nd quarter valued at about $1,294,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of DeFi Technologies during the 2nd quarter valued at about $1,039,000.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wall Street Zen raised DeFi Technologies to a "hold" rating in a research note on Friday, May 30th. Maxim Group boosted their target price on DeFi Technologies from $6.50 to $7.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, HC Wainwright boosted their target price on DeFi Technologies from $4.50 to $5.50 and gave the stock a "buy" rating in a research note on Thursday, May 15th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.