DeFi Technologies (NASDAQ:DEFT) Downgraded by Wall Street Zen to Strong Sell

Key Points

• Wall Street Zen downgraded DeFi Technologies (NASDAQ:DEFT) from a "sell" to a "strong sell," signaling increased negative sentiment from that research provider.
• Despite the downgrade, four analysts maintain "Buy" ratings and one a "Hold," leaving the consensus as a "Moderate Buy" with a $2.25 average target price.
• The stock trades near $0.81 with a market cap of about $312M; the company reported $0.08 EPS and $19.08M revenue last quarter, posting a high net margin (63.61%) and ROE (85.99%).

DeFi Technologies (NASDAQ:DEFT - Get Free Report) was downgraded by Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued to clients and investors on Monday.

Several other equities research analysts have also recently weighed in on the company. B. Riley Financial reissued a "buy" rating on shares of DeFi Technologies in a research note on Wednesday, April 8th. Maxim Group reduced their price objective on shares of DeFi Technologies from $2.00 to $1.50 and set a "buy" rating on the stock in a research report on Monday, April 13th. HC Wainwright cut their target price on DeFi Technologies from $5.50 to $2.00 and set a "buy" rating on the stock in a research report on Wednesday, April 8th. Finally, Weiss Ratings raised DeFi Technologies from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Wednesday, April 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, DeFi Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $2.25.

DeFi Technologies Stock Performance

NASDAQ DEFT opened at $0.81 on Monday. The stock has a market capitalization of $312.18 million, a PE ratio of 4.74 and a beta of 4.24. The business has a 50 day simple moving average of $0.69 and a two-hundred day simple moving average of $1.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.99 and a quick ratio of 0.99. DeFi Technologies has a 1-year low of $0.47 and a 1-year high of $4.95.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) last released its quarterly earnings results on Thursday, April 2nd. The company reported $0.08 earnings per share for the quarter. The business had revenue of $19.08 million during the quarter. DeFi Technologies had a return on equity of 85.99% and a net margin of 63.61%.

Hedge Funds Weigh In On DeFi Technologies

Several large investors have recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in shares of DeFi Technologies by 971.4% in the 3rd 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 period. Hudson Bay Capital Management LP acquired a new position in shares of DeFi Technologies during the 2nd quarter worth approximately $41,000. Royal Bank of Canada raised 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 buying an additional 15,133 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of DeFi Technologies during the 3rd quarter worth approximately $34,000. Finally, Commonwealth Equity Services LLC raised 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 buying an additional 16,524 shares during the period.

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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