DeFi Technologies (NASDAQ:DEFT) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• DeFi Technologies (NASDAQ:DEFT) experienced a notable increase in trading volume, with 3,356,031 shares traded, marking a 48% rise from the previous session.
• Research firms have mixed views on DEFT; while Maxim Group upgraded the stock's price target from $6.50 to $7.00 with a "buy" rating, Wall Street Zen downgraded it to a "sell" rating.
• The company reported a net loss in its last quarterly earnings, with an EPS of $0.05, missing the consensus estimate of $0.07, and revenues significantly lower than expected at $13.42 million.

Shares of DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 3,356,031 shares were traded during trading, an increase of 48% from the previous session's volume of 2,264,434 shares.The stock last traded at $2.63 and had previously closed at $2.46.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on DEFT shares. HC Wainwright reiterated a "buy" rating and set a $5.50 price objective on shares of DeFi Technologies in a research report on Tuesday, August 19th. Wall Street Zen cut shares of DeFi Technologies from a "hold" rating to a "sell" rating in a research report on Friday, September 5th. Finally, Maxim Group lifted their price objective on shares of DeFi Technologies from $6.50 to $7.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $6.25.

DeFi Technologies Trading Down 7.4%

The stock has a market cap of $851.28 million, a price-to-earnings ratio of 12.36 and a beta of 3.86. The stock's 50-day simple moving average is $2.56.

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

Institutional Trading of DeFi Technologies

Several hedge funds have recently modified their holdings of DEFT. Rollins Financial Advisors LLC purchased a new position in shares of DeFi Technologies in the 2nd quarter valued at approximately $101,000. Pekin Hardy Strauss Inc. purchased a new position in shares of DeFi Technologies in the 2nd quarter valued at approximately $246,000. Harvest Portfolios Group Inc. purchased a new position in shares of DeFi Technologies in the 2nd quarter valued at approximately $227,000. Y Intercept Hong Kong Ltd purchased a new position in shares of DeFi Technologies in the 2nd quarter valued at approximately $912,000. Finally, Brookstone Capital Management purchased a new position in shares of DeFi Technologies in the 2nd quarter valued at approximately $37,000.

DeFi Technologies Company Profile

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.