DeFi Technologies (NASDAQ:DEFT) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• DeFi Technologies' trading volume surged by 60% to over 5.3 million shares, with the stock price increasing from $2.05 to $2.15.
• Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and an average price target of $6.25.
• The company reported $0.05 earnings per share, missing consensus estimates, and had a revenue of $13.42 million against projected revenues of $42.08 million.

DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) saw an uptick in trading volume on Monday . 5,383,299 shares were traded during mid-day trading, an increase of 60% from the previous session's volume of 3,370,098 shares.The stock last traded at $2.15 and had previously closed at $2.05.

Wall Street Analysts Forecast Growth

Several research firms have commented on DEFT. Wall Street Zen raised shares of DeFi Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, October 11th. HC Wainwright reissued a "buy" rating and set a $5.50 price target on shares of DeFi Technologies in a research report on Friday, September 26th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of DeFi Technologies in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $6.25.

DeFi Technologies Stock Performance

The company has a market cap of $727.92 million, a PE ratio of 23.78 and a beta of 3.65. The firm's fifty day moving average price is $2.26.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.05 earnings per share 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 analyst estimates of $42.08 million. DeFi Technologies had a return on equity of 137.53% and a net margin of 43.38%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. WNY Asset Management LLC purchased a new position in shares of DeFi Technologies during the 2nd quarter valued at approximately $29,000. OMERS ADMINISTRATION Corp purchased a new position in DeFi Technologies in the 2nd quarter valued at $31,000. HighMark Wealth Management LLC purchased a new position in DeFi Technologies in the 2nd quarter valued at $35,000. Ignite Planners LLC purchased a new position in DeFi Technologies in the 3rd quarter valued at $35,000. Finally, Brookstone Capital Management purchased a new position in DeFi Technologies in the 2nd quarter valued at $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.

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