DeFi Technologies (NASDAQ:DEFT) Shares Gap Down - Here's Why

Key Points

• DeFi Technologies (NASDAQ:DEFT) experienced a significant **gap down**, opening at **$2.42** compared to the previous close of **$2.52**, with a trading volume of over **2.5 million shares**.
• Analysts have mixed reviews on DeFi Technologies, with **Wall Street Zen** downgrading its rating from "hold" to "sell," while **Maxim Group** raised its price target from **$6.50 to $7.00** and maintained a "buy" rating.
• The company reported **$0.05 EPS**, missing analysts' expectations of **$0.07**, along with a significant revenue shortfall of **$13.42 million**, far below the estimated **$42.08 million**.

DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $2.52, but opened at $2.42. DeFi Technologies shares last traded at $2.42, with a volume of 2,576,173 shares.

Wall Street Analyst Weigh In

DEFT has been the topic of several recent research reports. Wall Street Zen downgraded DeFi Technologies from a "hold" rating to a "sell" rating in a report on Friday, September 5th. HC Wainwright restated a "buy" rating and set a $5.50 price target on shares of DeFi Technologies in a report on Tuesday, August 19th. Finally, Maxim Group upped their price target on DeFi Technologies from $6.50 to $7.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, DeFi Technologies has a consensus rating of "Buy" and a consensus target price of $6.25.

DeFi Technologies Price Performance

The stock has a market capitalization of $882.21 million, a PE ratio of 28.89 and a beta of 3.89. The company's 50-day moving average price is $2.54.

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

Institutional Trading of DeFi Technologies

A number of hedge funds have recently added to or reduced their stakes in DEFT. Wealth Enhancement Advisory Services LLC acquired a new stake in DeFi Technologies during the 2nd quarter worth approximately $76,000. Public Employees Retirement System of Ohio acquired a new stake in DeFi Technologies during the 2nd quarter worth approximately $196,000. Novem Group acquired a new stake in DeFi Technologies during the 2nd quarter worth approximately $43,000. HighMark Wealth Management LLC acquired a new stake in DeFi Technologies during the 2nd quarter worth approximately $35,000. Finally, Capital Advisors Inc. OK acquired a new stake in DeFi Technologies during the 2nd quarter worth approximately $88,000.

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.