DeFi Technologies (NASDAQ:DEFT) Trading Down 3.7% - Here's Why

Key Points

• DeFi Technologies Inc. shares fell 3.7% to $2.62, with a trading volume decline of 9% from the average daily volume.
• Analysts have mixed ratings, with Wall Street Zen downgrading to "sell," while HC Wainwright and Maxim Group maintain "buy" ratings and set price targets of $5.50 and $7.00, respectively.
• In its latest earnings report, DeFi Technologies missed EPS expectations, reporting $0.05 compared to an expected $0.07, with revenue significantly underperforming estimates at $13.42 million.

DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) shares fell 3.7% on Friday . The stock traded as low as $2.61 and last traded at $2.62. 2,214,198 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 2,438,238 shares. The stock had previously closed at $2.72.

Wall Street Analysts Forecast Growth

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

DeFi Technologies Trading Down 7.4%

The stock has a market capitalization of $855.06 million, a P/E ratio of 28.00 and a beta of 3.89. The company's 50 day moving average is $2.56.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.05 EPS 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 company had revenue of $13.42 million for the quarter, compared to analyst estimates of $42.08 million.

Hedge Funds Weigh In On DeFi Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. WNY Asset Management LLC purchased a new position in shares of DeFi Technologies in the second quarter worth approximately $29,000. OMERS ADMINISTRATION Corp bought a new position in DeFi Technologies in the 2nd quarter worth approximately $31,000. HighMark Wealth Management LLC bought a new position in shares of DeFi Technologies during the 2nd quarter valued at approximately $35,000. Brookstone Capital Management bought a new position in shares of DeFi Technologies during the 2nd quarter valued at approximately $37,000. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of DeFi Technologies during the 2nd quarter valued at 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.