Short Interest in DeFi Technologies Inc. (NASDAQ:DEFT) Increases By 25.4%

Key Points

• Short interest in DeFi Technologies jumped by 25.4% in April to 18.76 million shares, representing about 4.8% of the float and a days-to-cover ratio of 1.1.
• Institutional activity shows growing ownership—most notably, Invesco increased its stake by 141.4% to 2,140,354 shares, while several other funds established new, smaller positions.
• The stock trades around $0.75 (market cap ~$292M) and has a consensus analyst rating of "Moderate Buy" with an average target of $2.25, though several brokers recently cut price targets and opinions remain mixed.

DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 18,761,398 shares, a growth of 25.4% from the March 31st total of 14,963,103 shares. Currently, 4.8% of the company's stock are sold short. Based on an average daily trading volume, of 17,317,794 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of DeFi Technologies during the 1st quarter valued at approximately $25,000. Aristides Capital LLC bought a new position in shares of DeFi Technologies during the 4th quarter valued at approximately $143,000. Connective Capital Management LLC bought a new position in shares of DeFi Technologies during the 4th quarter valued at approximately $138,000. Invesco Ltd. grew its stake in shares of DeFi Technologies by 141.4% during the 4th quarter. Invesco Ltd. now owns 2,140,354 shares of the company's stock valued at $1,615,000 after acquiring an additional 1,253,690 shares during the period. Finally, Toronto Dominion Bank grew its stake in shares of DeFi Technologies by 196.8% during the 4th quarter. Toronto Dominion Bank now owns 66,459 shares of the company's stock valued at $51,000 after acquiring an additional 44,068 shares during the period.

DeFi Technologies Stock Down 1.3%

Shares of DEFT traded down $0.01 during trading hours on Wednesday, hitting $0.75. The company had a trading volume of 1,637,340 shares, compared to its average volume of 5,796,142. The firm has a fifty day moving average price of $0.69 and a 200-day moving average price of $1.04. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $292.29 million, a price-to-earnings ratio of 4.43 and a beta of 4.24. DeFi Technologies has a 52-week low of $0.47 and a 52-week high of $4.95.

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

Analysts Set New Price Targets

Several brokerages have commented on DEFT. B. Riley Financial reissued a "buy" rating on shares of DeFi Technologies in a research report on Wednesday, April 8th. HC Wainwright lowered their price objective on DeFi Technologies from $5.50 to $2.00 and set a "buy" rating for the company in a research report on Wednesday, April 8th. Maxim Group lowered their price objective on DeFi Technologies from $2.00 to $1.50 and set a "buy" rating for the company in a research report on Monday, April 13th. Wall Street Zen lowered DeFi Technologies from a "sell" rating to a "strong sell" rating in a research report on Monday, April 20th. Finally, Weiss Ratings raised DeFi Technologies from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Wednesday, April 8th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $2.25.

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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