DeFi Technologies Sees Unusually High Options Volume (NASDAQ:DEFT)

Key Points

• DeFi Technologies Inc. (NASDAQ: DEFT) experienced a significant increase in options trading, with a 103% rise in call options, amounting to 6,165 options traded.
• Several hedge funds purchased new stakes in DeFi Technologies, with acquisitions totaling over $2 million during the second quarter of the year.
• The stock price of DeFi Technologies rose by 9.3% on Wednesday, reaching $2.69, and it has a consensus rating of "Buy" with a price target of $6.25.

DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) saw unusually large options trading activity on Wednesday. Traders purchased 6,165 call options on the company. This represents an increase of 103% compared to the typical daily volume of 3,031 call options.

Hedge Funds Weigh In On DeFi Technologies

Hedge funds have recently modified their holdings of the stock. Hudson Bay Capital Management LP purchased a new stake in shares of DeFi Technologies during the second quarter worth $41,000. Corient Private Wealth LLC purchased a new stake in shares of DeFi Technologies during the 2nd quarter worth about $1,723,000. Captrust Financial Advisors purchased a new stake in shares of DeFi Technologies during the 2nd quarter worth about $57,000. Visionary Wealth Advisors acquired a new stake in shares of DeFi Technologies during the 2nd quarter valued at about $431,000. Finally, Shay Capital LLC bought a new stake in DeFi Technologies in the second quarter worth approximately $50,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on DEFT shares. Maxim Group raised 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 downgraded 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 issued a $5.50 price objective on shares of DeFi Technologies in a research report on Tuesday, August 19th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, DeFi Technologies presently has a consensus rating of "Buy" and a consensus price target of $6.25.

DeFi Technologies Stock Up 9.3%

Shares of DeFi Technologies stock traded up $0.23 during trading on Wednesday, hitting $2.69. The stock had a trading volume of 8,680,791 shares, compared to its average volume of 2,586,059. The stock's 50 day simple moving average is $2.53. The stock has a market cap of $912.74 million, a P/E ratio of 29.89 and a beta of 3.86. DeFi Technologies has a 1 year low of $1.50 and a 1 year high of $4.95.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) last released its earnings results 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 firm had revenue of $13.42 million during the quarter, compared to analysts' expectations of $42.08 million.

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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