DeFi Technologies (NASDAQ:DEFT) Shares Gap Up - Time to Buy?

Key Points

• Shares gapped up Monday, opening at $1.78 (prior close $1.62) and trading around $1.7350 on ~2.14M shares, representing an increase of about 8.3%.
• Analyst sentiment is mixed — two Buy ratings and one Sell lead to an average rating of Hold with an average target price of $6.25; recent notes include a downgrade from Wall Street Zen and a reiterated Buy from HC Wainwright ($5.50 target).
• The company missed quarterly estimates (EPS $0.05 vs $0.07 expected; revenue $13.42M vs $42.08M expected) but reported strong margin and ROE figures, and several institutional investors (Rathbones, BMO, Marshall Wace, Invesco, Swiss National Bank) added positions in Q2.

DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $1.62, but opened at $1.78. DeFi Technologies shares last traded at $1.7350, with a volume of 2,139,883 shares trading hands.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wall Street Zen downgraded shares of DeFi Technologies from a "hold" rating to a "sell" rating in a report on Saturday, November 1st. HC Wainwright restated a "buy" rating and set a $5.50 price objective on shares of DeFi Technologies in a research report on Friday, September 26th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of DeFi Technologies in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, DeFi Technologies has an average rating of "Hold" and an average target price of $6.25.

DeFi Technologies Stock Up 8.3%

The company has a market cap of $596.97 million, a price-to-earnings ratio of 19.61 and a beta of 3.58. The company's 50 day moving average is $2.14.

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

Hedge Funds Weigh In On DeFi Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in DEFT. Rathbones Group PLC acquired a new stake in shares of DeFi Technologies during the 2nd quarter worth approximately $8,789,000. Bank of Montreal Can bought a new stake in DeFi Technologies during the second quarter worth $7,891,000. Marshall Wace LLP acquired a new stake in shares of DeFi Technologies in the 2nd quarter valued at $5,635,000. Invesco Ltd. bought a new position in shares of DeFi Technologies in the 2nd quarter valued at $3,266,000. Finally, Swiss National Bank bought a new position in shares of DeFi Technologies in the 2nd quarter valued at $1,727,000.

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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