DeFi Technologies (NASDAQ:DEFT) Shares Gap Up - Still a Buy?

Key Points

• DeFi Technologies' stock price opened at $2.15 after closing at $2.06, with significant trading volume of over 4.8 million shares.
• Analysts have mixed opinions on the stock, with a "buy" rating and a price target of $5.50 from HC Wainwright, while Weiss Ratings issued a "sell" rating.
• The company reported a net margin of 43.38% but fell short of revenue expectations, generating $13.42 million against an estimate of $42.08 million for the last quarter.

DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $2.06, but opened at $2.15. DeFi Technologies shares last traded at $2.14, with a volume of 4,836,526 shares trading hands.

Analysts Set New Price Targets

DEFT has been the topic of several research analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $5.50 price objective on shares of DeFi Technologies in a research note on Friday, September 26th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of DeFi Technologies in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised DeFi Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, October 11th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $6.25.

DeFi Technologies Price Performance

The company's 50 day moving average price is $2.28. The stock has a market capitalization of $729.62 million, a PE ratio of 23.83 and a beta of 3.65.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) last announced 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). DeFi Technologies had a net margin of 43.38% and a return on equity of 137.53%. The firm had revenue of $13.42 million for the quarter, compared to analyst estimates of $42.08 million.

Hedge Funds Weigh In On DeFi Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. WNY Asset Management LLC acquired a new position in shares of DeFi Technologies in the second quarter worth approximately $29,000. OMERS ADMINISTRATION Corp acquired a new position in shares of DeFi Technologies in the second quarter worth approximately $31,000. HighMark Wealth Management LLC acquired a new position in shares of DeFi Technologies in the second quarter worth approximately $35,000. Brookstone Capital Management acquired a new position in shares of DeFi Technologies in the second quarter worth approximately $37,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of DeFi Technologies in the second quarter worth approximately $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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