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DeFi Technologies (NASDAQ:DEFT) Sees Unusually-High Trading Volume - Time to Buy?

DeFi Technologies logo with Business Services background

Key Points

  • DeFi Technologies (NASDAQ:DEFT) experienced a 29% increase in trading volume with 2,687,797 shares traded, despite the stock price declining to $2.17 from a previous close of $2.31.
  • Analysts have recently raised their price targets for DEFT, with HC Wainwright increasing its objective from $4.50 to $5.50 and Maxim Group bringing it up from $6.50 to $7.00.
  • The company reported a revenue of $13.42 million for the last quarter, significantly below analyst estimates of $42.08 million, and missed expectations for earnings per share.
  • Five stocks we like better than DeFi Technologies.

Shares of DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) saw an uptick in trading volume on Monday . 2,687,797 shares changed hands during trading, an increase of 29% from the previous session's volume of 2,087,436 shares.The stock last traded at $2.17 and had previously closed at $2.31.

Wall Street Analyst Weigh In

DEFT has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of DeFi Technologies to a "hold" rating in a report on Friday, May 30th. HC Wainwright reiterated a "buy" rating and set a $5.50 price target on shares of DeFi Technologies in a research report on Tuesday. Finally, Maxim Group upped their price objective on DeFi Technologies from $6.50 to $7.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $6.25.

Get Our Latest Research Report on DEFT

DeFi Technologies Stock Up 6.7%

The company has a fifty day moving average price of $2.82. The stock has a market cap of $756.70 million, a P/E ratio of 24.89 and a beta of 3.93.

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

Institutional Trading of DeFi Technologies

Institutional investors have recently bought and sold shares of the company. Rathbones Group PLC acquired a new position in DeFi Technologies in the 2nd quarter worth about $8,789,000. Bank of Montreal Can bought a new stake in shares of DeFi Technologies in the 2nd quarter valued at approximately $7,891,000. Marshall Wace LLP acquired a new position in DeFi Technologies in the second quarter worth approximately $5,635,000. Invesco Ltd. acquired a new position in DeFi Technologies in the second quarter worth approximately $3,266,000. Finally, Swiss National Bank bought a new position in DeFi Technologies during the second quarter valued at approximately $1,727,000.

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

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