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

Key Points

• DeFi Technologies' shares experienced a significant trading volume increase of 167%, with approximately 7 million shares exchanged, while the stock price fell to $2.19 from a prior close of $2.61.
• Despite a recent earnings miss with EPS of $0.05 compared to a consensus estimate of $0.07, analysts maintain a consensus rating of "Buy" with an average price target of $6.25.
• Several institutional investors have recently acquired stakes in DeFi Technologies, indicating growing interest, with new investments ranging from $29,000 to $39,000 in the second quarter.

Shares of DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 7,085,867 shares changed hands during trading, an increase of 167% from the previous session's volume of 2,656,514 shares.The stock last traded at $2.19 and had previously closed at $2.61.

Wall Street Analysts Forecast Growth

DEFT has been the topic of a number of research reports. HC Wainwright reaffirmed a "buy" rating and set a $5.50 target price on shares of DeFi Technologies in a research report on Tuesday, August 19th. Wall Street Zen lowered shares of DeFi Technologies from a "hold" rating to a "sell" rating in a research report on Friday, September 5th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $6.25.

DeFi Technologies Stock Performance

The firm has a market capitalization of $715.94 million, a PE ratio of 23.44 and a beta of 3.86. The stock's fifty day simple moving average is $2.51.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $13.42 million during the quarter, compared to the consensus estimate of $42.08 million. DeFi Technologies had a net margin of 43.38% and a return on equity of 137.53%.

Institutional Investors Weigh In On DeFi Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. WNY Asset Management LLC acquired a new stake in shares of DeFi Technologies in the 2nd quarter valued at $29,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of DeFi Technologies in the 2nd quarter valued at $31,000. HighMark Wealth Management LLC acquired a new stake in shares of DeFi Technologies in the 2nd quarter valued at $35,000. Brookstone Capital Management acquired a new stake in shares of DeFi Technologies in the 2nd quarter valued at $37,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of DeFi Technologies in the 2nd quarter valued at $39,000.

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.

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