HC Wainwright Lowers DeFi Technologies (NASDAQ:DEFT) Price Target to $2.00

Key Points

• HC Wainwright cut its price target on DeFi Technologies from $5.50 to $2.00 while maintaining a "buy" rating, a level the firm says implies roughly a 162.8% upside from the stock's prior close.
• DEFT opened at $0.76 and trades in a 12‑month range of $0.47–$4.95, with a market cap of about $295 million, a low P/E of 4.48 and high volatility (beta 4.24).
• DeFi reported quarterly EPS of $0.08 on $19.08 million in revenue with a net margin of 23.89% and ROE of 105.69%; analysts' consensus is a "Moderate Buy" (average target $3.63) and institutions like Invesco and Millennium materially increased holdings.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) had its target price reduced by equities researchers at HC Wainwright from $5.50 to $2.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's target price suggests a potential upside of 162.81% from the stock's previous close.

A number of other brokerages have also weighed in on DEFT. Wall Street Zen upgraded DeFi Technologies from a "sell" rating to a "hold" rating in a research note on Saturday. Weiss Ratings restated a "sell (d-)" rating on shares of DeFi Technologies in a research note on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $3.63.

DeFi Technologies Trading Down 1.8%

Shares of DEFT stock opened at $0.76 on Wednesday. DeFi Technologies has a 12-month low of $0.47 and a 12-month high of $4.95. The company has a market capitalization of $295.10 million, a P/E ratio of 4.48 and a beta of 4.24. The firm has a 50-day moving average price of $0.69 and a 200 day moving average price of $1.19. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.02.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) last announced its quarterly earnings results on Thursday, April 2nd. The company reported $0.08 earnings per share (EPS) for the quarter. DeFi Technologies had a net margin of 23.89% and a return on equity of 105.69%. The firm had revenue of $19.08 million during the quarter.

Institutional Trading of DeFi Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Aristides Capital LLC acquired a new stake in shares of DeFi Technologies in the fourth quarter valued at $143,000. Connective Capital Management LLC acquired a new stake in DeFi Technologies in the fourth quarter worth about $138,000. Invesco Ltd. increased its position in DeFi Technologies by 141.4% in the fourth quarter. Invesco Ltd. now owns 2,140,354 shares of the company's stock worth $1,615,000 after purchasing an additional 1,253,690 shares during the period. Toronto Dominion Bank increased its position in DeFi Technologies by 196.8% in the fourth quarter. Toronto Dominion Bank now owns 66,459 shares of the company's stock worth $51,000 after purchasing an additional 44,068 shares during the period. Finally, Millennium Management LLC increased its position in DeFi Technologies by 103.6% in the fourth quarter. Millennium Management LLC now owns 5,836,397 shares of the company's stock worth $4,404,000 after purchasing an additional 2,969,170 shares during the period.

About DeFi Technologies

DeFi Technologies Inc is a Vancouver-based company focused on decentralized finance (DeFi) and digital asset investments. Through strategic equity stakes and token allocations, the company aims to provide investors with exposure to leading DeFi protocols, applications, and infrastructure projects. Its core activities include sourcing, evaluating and acquiring positions in blockchain-based platforms that facilitate decentralized lending, trading, yield farming and liquidity provision.

In addition to its investment portfolio, DeFi Technologies works to develop and distribute tokenized products that bridge traditional capital markets with emerging DeFi ecosystems.

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