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

Key Points

• DeFi Technologies shares experienced a pre-market gap up, opening at $3.00 after a previous close of $2.89.
• Analysts have raised their target prices for the stock, with Maxim Group increasing it from $6.50 to $7.00, while HC Wainwright raised theirs from $4.50 to $5.50, both maintaining a "buy" rating.
• Recent institutional investments include the Public Employees Retirement System of Ohio acquiring a new position worth approximately $196,000 during the second quarter.

DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $2.89, but opened at $3.00. DeFi Technologies shares last traded at $2.92, with a volume of 1,235,465 shares.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DEFT. Maxim Group upped their target price on shares of DeFi Technologies from $6.50 to $7.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. HC Wainwright upped their target price on shares of DeFi Technologies from $4.50 to $5.50 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Wall Street Zen raised shares of DeFi Technologies to a "hold" rating in a report on Friday, May 30th.

DeFi Technologies Trading Up 1.7%

The stock has a market capitalization of $993.16 million, a PE ratio of 10.14 and a beta of 4.02. The firm's fifty day moving average price is $3.18.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DEFT. Wealth Enhancement Advisory Services LLC purchased a new position in DeFi Technologies during the second quarter worth about $76,000. Public Employees Retirement System of Ohio purchased a new position in DeFi Technologies during the second quarter worth about $196,000. Novem Group acquired a new stake in shares of DeFi Technologies during the second quarter worth about $43,000. HighMark Wealth Management LLC acquired a new stake in shares of DeFi Technologies during the second quarter worth about $35,000. Finally, Capital Advisors Inc. OK acquired a new stake in shares of DeFi Technologies during the second quarter worth about $88,000.

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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