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

DeFi Technologies Inc. (NASDAQ:DEFT) was the target of some unusual options trading activity on Tuesday. Investors acquired 2,423 call options on the company. This represents an increase of 72% compared to the average volume of 1,411 call options.

DeFi Technologies Stock Performance

DeFi Technologies stock traded up $0.02 during mid-day trading on Tuesday, reaching $0.55. 476,047 shares of the company were exchanged, compared to its average volume of 5,277,340. The firm’s 50-day simple moving average is $0.66 and its two-hundred day simple moving average is $0.75. DeFi Technologies has a twelve month low of $0.47 and a twelve month high of $3.59. The firm has a market cap of $212.65 million, a PE ratio of 5.47 and a beta of 3.70. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.10 and a current ratio of 1.10.

DeFi Technologies (NASDAQ:DEFT) last released its quarterly earnings results on Thursday, April 2nd. The company reported $0.08 EPS for the quarter. DeFi Technologies had a return on equity of 42.24% and a net margin of 56.94%.The business had revenue of $19.08 million during the quarter. Equities analysts predict that DeFi Technologies will post -0.01 earnings per share for the current fiscal year.

Institutional Trading of DeFi Technologies

Hedge funds have recently made changes to their positions in the company. Brevan Howard Capital Management LP acquired a new position in shares of DeFi Technologies during the third quarter worth about $5,275,000. NewGen Asset Management Ltd acquired a new stake in DeFi Technologies in the third quarter valued at about $2,890,000. Polar Asset Management Partners Inc. purchased a new stake in DeFi Technologies in the 3rd quarter valued at approximately $1,652,000. Royal Bank of Canada increased its position in DeFi Technologies by 54.5% during the 4th quarter. Royal Bank of Canada now owns 42,900 shares of the company’s stock worth $33,000 after purchasing an additional 15,133 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake 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 buying an additional 16,524 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have weighed in on DEFT. Maxim Group cut their price target on DeFi Technologies from $2.00 to $1.50 and set a “buy” rating on the stock in a research note on Monday, April 13th. Benchmark reduced their price objective on shares of DeFi Technologies from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Monday, May 18th. HC Wainwright cut their price target on shares of DeFi Technologies from $5.50 to $2.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Weiss Ratings raised DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 8th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of DeFi Technologies in a research report on Wednesday, April 8th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, DeFi Technologies presently has an average rating of “Moderate Buy” and an average target price of $2.00.

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.