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DeFi Technologies (NASDAQ:DEFT) Earns "Sell (D-)" Rating from Weiss Ratings

DeFi Technologies logo with Business Services background

Key Points

  • DeFi Technologies has been assigned a "Sell (D-)" rating by Weiss Ratings, indicating a negative outlook for the company's stock.
  • The company's stock has seen a recent price drop to $2.22, significantly lower than its 12-month high of $4.95.
  • DeFi Technologies reported earnings below expectations, with a quarterly revenue of $13.42 million versus the anticipated $42.08 million.
  • MarketBeat previews the top five stocks to own by November 1st.

DeFi Technologies (NASDAQ:DEFT - Get Free Report)'s stock had its "sell (d-)" rating restated by equities researchers at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Other equities analysts have also recently issued reports about the company. Wall Street Zen cut DeFi Technologies from a "hold" rating to a "sell" rating in a report on Friday, September 5th. HC Wainwright reissued a "buy" rating and set a $5.50 price target on shares of DeFi Technologies in a research note on Friday, September 26th. Two investment 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 an average rating of "Hold" and a consensus target price of $6.25.

Check Out Our Latest Analysis on DeFi Technologies

DeFi Technologies Stock Performance

NASDAQ:DEFT traded down $0.01 during mid-day trading on Wednesday, hitting $2.22. 7,346,022 shares of the stock traded hands, compared to its average volume of 11,253,175. The company has a market cap of $755.13 million, a P/E ratio of 24.67 and a beta of 3.65. DeFi Technologies has a 12-month low of $1.50 and a 12-month high of $4.95. The firm's 50-day moving average is $2.33.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). DeFi Technologies had a return on equity of 137.53% and a net margin of 43.38%.The company had revenue of $13.42 million during the quarter, compared to analysts' expectations of $42.08 million.

Institutional Investors Weigh In On DeFi Technologies

A number of large investors have recently made changes to their positions in DEFT. WNY Asset Management LLC purchased a new position in DeFi Technologies in the second quarter worth approximately $29,000. OMERS ADMINISTRATION Corp purchased a new position in DeFi Technologies in the second quarter valued at $31,000. HighMark Wealth Management LLC purchased a new position in DeFi Technologies in the second quarter valued at $35,000. Brookstone Capital Management acquired a new stake in DeFi Technologies in the second quarter valued at $37,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in DeFi Technologies in the second quarter valued at $39,000.

DeFi Technologies Company Profile

(Get Free Report)

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.

Further Reading

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.

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