DeFi Technologies (NASDAQ:DEFT) Lowered to "Strong Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded DeFi Technologies to “strong sell,” contrasting with the broader analyst consensus of “Moderate Buy,” based on four Buy ratings and one Hold rating.
• Benchmark reduced its price target from $3.00 to $2.00 while retaining a Buy rating; the stock opened at $0.49 and remains near its one-year low of $0.39, well below its $2.80 high.
• DeFi Technologies reported quarterly EPS of -$0.03, missing the consensus estimate of -$0.01 by $0.02. Analysts expect full-year EPS of approximately -$0.01.

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

Other analysts also recently issued reports about the company. Weiss Ratings upgraded DeFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 8th. Benchmark dropped their price target on shares of DeFi Technologies from $3.00 to $2.00 and set a "buy" rating for the company in a research note on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $2.00.

DeFi Technologies Stock Performance

Shares of DEFT stock opened at $0.49 on Friday. The firm has a market capitalization of $189.95 million, a price-to-earnings ratio of 8.16 and a beta of 3.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.10 and a current ratio of 1.10. The company has a 50 day moving average price of $0.49 and a 200 day moving average price of $0.63. DeFi Technologies has a one year low of $0.39 and a one year high of $2.80.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). DeFi Technologies had a return on equity of 15.47% and a net margin of 39.65%. Sell-side analysts anticipate that DeFi Technologies will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in DeFi Technologies in the first quarter worth about $25,000. Commonwealth Equity Services LLC boosted its position in shares of DeFi Technologies by 79.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 37,270 shares of the company's stock valued at $28,000 after purchasing an additional 16,524 shares during the period. Royal Bank of Canada boosted its holdings in shares of DeFi Technologies by 54.5% in the fourth 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 purchased a new position in DeFi Technologies during the 3rd quarter worth approximately $34,000. Finally, CIBC Asset Management Inc purchased a new position in shares of DeFi Technologies during the fourth quarter valued at $36,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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