DeFi Technologies (NASDAQ:DEFT) Shares Up 8% - What's Next?

Key Points

• DeFi Technologies' shares rose by 8% on Thursday, trading as high as $2.31 before closing at $2.30, despite a decline in trading volume.
• Recent analyst ratings show a mix of outlooks, with Wall Street Zen downgrading the stock to "sell" while Maxim Group raised their price target and maintained a "buy" rating.
• The company reported a loss in its recent quarterly earnings, with revenue of $13.42 million falling short of expectations of $42.08 million.

Shares of DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) shot up 8% on Thursday . The company traded as high as $2.31 and last traded at $2.30. 1,542,046 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 2,181,222 shares. The stock had previously closed at $2.13.

Analyst Upgrades and Downgrades

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

DeFi Technologies Stock Performance

The firm's 50-day moving average is $2.62. The company has a market capitalization of $783.72 million, a P/E ratio of 25.78 and a beta of 3.86.

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 the consensus estimate of $0.07 by ($0.02). DeFi Technologies had a return on equity of 137.53% and a net margin of 43.38%.The business had revenue of $13.42 million during the quarter, compared to analysts' expectations of $42.08 million.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC bought a new stake in shares of DeFi Technologies in the second quarter valued at $76,000. Public Employees Retirement System of Ohio bought a new stake in shares of DeFi Technologies in the second quarter valued at $196,000. Novem Group bought a new stake in shares of DeFi Technologies in the second quarter valued at $43,000. HighMark Wealth Management LLC bought a new stake in shares of DeFi Technologies in the second quarter valued at $35,000. Finally, Capital Advisors Inc. OK bought a new stake in shares of DeFi Technologies in the second quarter valued at $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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