DeFi Technologies (NASDAQ:DEFT) Trading Down 7.7% - What's Next?

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.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on DEFT. Wall Street Zen upgraded DeFi Technologies to a "hold" rating in a research report on Friday, May 30th. HC Wainwright increased their price target on DeFi Technologies from $4.50 to $5.50 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Maxim Group raised their target price on DeFi Technologies from $6.50 to $7.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th.

DeFi Technologies Stock Down 9.1%

The business's 50 day simple moving average is $2.98. The stock has a market capitalization of $874.93 million, a PE ratio of 8.93 and a beta of 3.93.

Institutional Trading of DeFi Technologies

Several hedge funds and other institutional investors have recently modified their holdings of DEFT. WNY Asset Management LLC purchased a new stake in shares of DeFi Technologies during the second quarter worth $29,000. HighMark Wealth Management LLC bought a new position in DeFi Technologies during the second quarter valued at about $35,000. Brookstone Capital Management bought a new position in DeFi Technologies during the second quarter valued at about $37,000. Novem Group bought a new position in DeFi Technologies during the second quarter valued at about $43,000. Finally, Allworth Financial LP bought a new position in DeFi Technologies during the second quarter valued at about $44,000.

About DeFi Technologies

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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