Maxim Group Issues Pessimistic Forecast for DeFi Technologies (NASDAQ:DEFT) Stock Price

Key Points

• Maxim Group cut its price target on DeFi Technologies from $2.00 to $1.50 but kept a "buy" rating; the new target implies roughly a 97% upside from the stock's current price (~$0.76).
• Analyst sentiment is mixed but leans positive with four Buys and one Hold, a consensus rating of "Moderate Buy" and a consensus price target of $2.25; notable moves include HC Wainwright lowering its target to $2.00 and Wall Street Zen downgrading to Sell.
• Shares trade around $0.76 with a market cap of about $295 million and a P/E of 4.47, and the company reported quarterly EPS of $0.08 with a net margin of 63.6% and return on equity of 85.99%.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) had its price objective dropped by Maxim Group from $2.00 to $1.50 in a report released on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Maxim Group's price target points to a potential upside of 97.37% from the stock's current price.

Other research analysts have also issued research reports about the stock. B. Riley Financial restated a "buy" rating on shares of DeFi Technologies in a research report on Wednesday, April 8th. Weiss Ratings upgraded DeFi Technologies from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Wednesday. Wall Street Zen downgraded DeFi Technologies from a "hold" rating to a "sell" rating in a research report on Sunday. Finally, HC Wainwright lowered their price objective on DeFi Technologies from $5.50 to $2.00 and set a "buy" rating on the stock in a research note on Wednesday, April 8th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, DeFi Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $2.25.

DeFi Technologies Stock Performance

Shares of DEFT traded up $0.02 during midday trading on Monday, reaching $0.76. 6,742,922 shares of the stock were exchanged, compared to its average volume of 5,842,495. DeFi Technologies has a twelve month low of $0.47 and a twelve month high of $4.95. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.02. The company has a market cap of $294.71 million, a P/E ratio of 4.47 and a beta of 4.24. The stock's 50 day simple moving average is $0.69 and its 200 day simple moving average is $1.15.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) last released its quarterly earnings results on Thursday, April 2nd. The company reported $0.08 EPS for the quarter. DeFi Technologies had a net margin of 63.61% and a return on equity of 85.99%. The business had revenue of $19.08 million for the quarter.

Hedge Funds Weigh In On DeFi Technologies

Hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its holdings in shares of DeFi Technologies by 79.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 37,270 shares of the company's stock worth $28,000 after acquiring an additional 16,524 shares during the period. Jones Financial Companies Lllp increased its stake in DeFi Technologies by 971.4% in the third quarter. Jones Financial Companies Lllp now owns 15,000 shares of the company's stock valued at $32,000 after acquiring an additional 13,600 shares during the last quarter. Royal Bank of Canada raised its position in DeFi Technologies by 54.5% during the fourth quarter. Royal Bank of Canada now owns 42,900 shares of the company's stock valued at $33,000 after purchasing an additional 15,133 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in DeFi Technologies during the third quarter valued at approximately $34,000. Finally, Ignite Planners LLC bought a new stake in DeFi Technologies during the third quarter worth $35,000.

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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