DeFi Technologies (NASDAQ:DEFT) Sees Large Volume Increase - Here's What Happened

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.

DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) saw an uptick in trading volume on Monday . 2,687,797 shares changed hands during mid-day 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.

Analyst Ratings Changes

DEFT has been the subject of several recent analyst reports. HC Wainwright lifted their price objective on shares of DeFi Technologies from $4.50 to $5.50 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen raised DeFi Technologies to a "hold" rating in a research report on Friday, May 30th. Finally, Maxim Group raised their target price on DeFi Technologies from $6.50 to $7.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th.

DeFi Technologies Trading Down 4.3%

The firm has a 50-day moving average of $2.91. The company has a market cap of $746.56 million, a price-to-earnings ratio of 24.56 and a beta of 3.93.

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

Institutional Inflows and Outflows

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

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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