DeFi Technologies (NASDAQ:DEFT) Given "Buy" Rating at HC Wainwright

Key Points

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DeFi Technologies (NASDAQ:DEFT - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $5.50 price target on the stock. HC Wainwright's price objective would indicate a potential upside of 142.29% from the stock's current price.

A number of other equities research analysts have also weighed in on the stock. Maxim Group boosted their price objective on shares of DeFi Technologies from $6.50 to $7.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Wall Street Zen raised shares of DeFi Technologies to a "hold" rating in a report on Friday, May 30th.

DeFi Technologies Trading Down 1.7%

Shares of DEFT stock opened at $2.27 on Tuesday. The stock has a market cap of $766.83 million, a P/E ratio of 25.22 and a beta of 3.93. DeFi Technologies has a 1-year low of $1.50 and a 1-year high of $4.95. The stock's fifty day simple moving average is $2.89.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). The company had revenue of $13.42 million for the quarter, compared to analysts' expectations of $42.08 million. DeFi Technologies had a net margin of 43.38% and a return on equity of 104.84%.

Institutional Investors Weigh In On DeFi Technologies

Several hedge funds have recently added to or reduced their stakes in the business. WNY Asset Management LLC purchased a new stake in DeFi Technologies in the second quarter valued at $29,000. OMERS ADMINISTRATION Corp purchased a new stake in DeFi Technologies in the second quarter valued at $31,000. HighMark Wealth Management LLC purchased a new stake in DeFi Technologies in the second quarter valued at $35,000. Brookstone Capital Management purchased a new stake in DeFi Technologies in the second quarter valued at $37,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in DeFi Technologies in the second quarter valued at $39,000.

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.

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