Traders Purchase Large Volume of DeFi Technologies Call Options (NASDAQ:DEFT)

Key Points

• Traders bought 4,365 call options on DeFi Technologies, about 209% above its average daily call volume, signaling unusual bullish options activity.
• DEFT shares slipped 1.9% to $0.41, near its 52-week low, even as the company reported quarterly earnings of $0.01 per share, beating estimates and generating $11.19 million in revenue.
• Analyst sentiment remains mixed but constructive, with four Buy ratings and one Hold and a consensus target price of $2.00, while hedge funds have also been adjusting their positions in the stock.

DeFi Technologies Inc. (NASDAQ:DEFT - Get Free Report) was the target of some unusual options trading activity on Friday. Investors acquired 4,365 call options on the company. This is an increase of approximately 209% compared to the average daily volume of 1,413 call options.

DeFi Technologies Stock Down 1.9%

DEFT stock traded down $0.01 during trading on Friday, hitting $0.41. 666,928 shares of the stock traded hands, compared to its average volume of 4,991,667. The stock has a market cap of $161.04 million, a price-to-earnings ratio of 4.15 and a beta of 3.81. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.10 and a quick ratio of 1.10. DeFi Technologies has a 1 year low of $0.41 and a 1 year high of $3.47. The firm's 50 day moving average is $0.58 and its two-hundred day moving average is $0.70.

DeFi Technologies (NASDAQ:DEFT - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. DeFi Technologies had a net margin of 56.94% and a return on equity of 42.24%. The business had revenue of $11.19 million during the quarter, compared to analysts' expectations of $10.68 million. On average, sell-side analysts anticipate that DeFi Technologies will post -0.01 EPS for the current year.

Analyst Upgrades and Downgrades

DEFT has been the subject of several recent research reports. Weiss Ratings upgraded shares of DeFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 8th. Wall Street Zen upgraded DeFi Technologies from a "strong sell" rating to a "sell" rating in a research note on Monday, June 29th. B. Riley Financial reaffirmed a "buy" rating on shares of DeFi Technologies in a research report on Wednesday, April 8th. Benchmark lowered their price objective on DeFi Technologies from $3.00 to $2.00 and set a "buy" rating for the company in a research note on Monday, May 18th. Finally, Maxim Group dropped their target price on DeFi Technologies from $2.00 to $1.50 and set a "buy" rating on the stock in a report on Monday, April 13th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $2.00.

Hedge Funds Weigh In On DeFi Technologies

Hedge funds have recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. bought a new stake in shares of DeFi Technologies in the 3rd quarter worth $1,652,000. Marex Group plc raised its stake in shares of DeFi Technologies by 572.4% in the fourth quarter. Marex Group plc now owns 336,200 shares of the company's stock worth $254,000 after purchasing an additional 286,200 shares during the last quarter. Aristides Capital LLC bought a new position in shares of DeFi Technologies during the fourth quarter valued at $143,000. Bank of America Corp DE lifted its holdings in shares of DeFi Technologies by 600.3% during the third quarter. Bank of America Corp DE now owns 41,315 shares of the company's stock valued at $87,000 after purchasing an additional 35,415 shares in the last quarter. Finally, Cary Street Partners Financial LLC bought a new position in shares of DeFi Technologies during the second quarter valued at $57,000.

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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