DeFi Technologies (NASDAQ:DEFT) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Key Points

• DeFi Technologies reported a quarterly loss of $0.03 per share, missing analyst expectations by $0.02. The company posted a 42.24% return on equity and a 56.94% net margin.
• Shares fell 5.6% to $0.48 during Thursday trading. The stock has ranged from $0.39 to $2.80 over the past year and carries a high beta of 3.92.
• Analysts maintain a generally positive outlook, with four Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and a $2.00 target price.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) released its earnings results on Thursday. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02), Zacks reports. DeFi Technologies had a return on equity of 42.24% and a net margin of 56.94%.

DeFi Technologies Stock Down 5.6%

Shares of NASDAQ:DEFT traded down $0.03 during midday trading on Thursday, hitting $0.48. 3,256,837 shares of the company's stock were exchanged, compared to its average volume of 4,590,243. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.10 and a quick ratio of 1.10. DeFi Technologies has a 12 month low of $0.39 and a 12 month high of $2.80. The company has a market cap of $186.65 million, a PE ratio of 4.81 and a beta of 3.92. The stock has a 50 day moving average price of $0.49 and a 200-day moving average price of $0.63.

Hedge Funds Weigh In On DeFi Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP bought a new stake in DeFi Technologies during the 2nd quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of DeFi Technologies during the third quarter valued at approximately $34,000. Shay Capital LLC purchased a new position in shares of DeFi Technologies during the second quarter valued at approximately $50,000. Lazard Asset Management LLC bought a new stake in DeFi Technologies during the second quarter worth $51,000. Finally, Captrust Financial Advisors bought a new stake in DeFi Technologies during the second quarter worth $57,000.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Weiss Ratings raised DeFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 8th. Wall Street Zen raised shares of DeFi Technologies from a "strong sell" rating to a "sell" rating in a research report on Monday, June 29th. Finally, Benchmark lowered their price objective 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 analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $2.00.

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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