DeFi Technologies (NASDAQ:DEFT) Shares Down 7.7% - Time to Sell?

Key Points

• DeFi Technologies' stock price dropped by 7.7% to $2.63, with trading volume significantly declining to 567,478 shares, marking a 71% drop from the average volume.
• Several brokerages have upgraded DeFi Technologies' rating, with HC Wainwright raising the price target to $5.50 and Maxim Group to $7.00, both assigning a "buy" rating.
• The company's market capitalization is approximately $874.93 million, with a PE ratio of 8.93 and a beta of 3.93, indicating higher volatility compared to the market.

Shares of DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) fell 7.7% during trading on Tuesday . The stock traded as low as $2.61 and last traded at $2.63. 567,478 shares were traded during mid-day trading, a decline of 71% from the average session volume of 1,952,683 shares. The stock had previously closed at $2.85.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DEFT. Maxim Group boosted their price target on DeFi Technologies from $6.50 to $7.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Wall Street Zen raised DeFi Technologies to a "hold" rating in a research note on Friday, May 30th. Finally, HC Wainwright boosted their price target on DeFi Technologies from $4.50 to $5.50 and gave the company a "buy" rating in a research note on Thursday, May 15th.

DeFi Technologies Trading Down 11.5%

The stock's 50-day simple moving average is $2.91. The firm has a market cap of $780.34 million, a PE ratio of 25.67 and a beta of 3.93.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The business had revenue of $13.42 million during the quarter, compared to the consensus estimate of $42.08 million. DeFi Technologies had a net margin of 43.38% and a return on equity of 104.84%.

Institutional Investors Weigh In On DeFi Technologies

A number of institutional investors have recently made changes to their positions in DEFT. WNY Asset Management LLC acquired a new stake in shares of DeFi Technologies during the second quarter worth $29,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of DeFi Technologies during the second quarter worth $31,000. HighMark Wealth Management LLC acquired a new position in DeFi Technologies in the second quarter valued at about $35,000. Brookstone Capital Management acquired a new position in DeFi Technologies in the second quarter valued at about $37,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in DeFi Technologies in the second quarter valued at about $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.