DeFi Technologies (NASDAQ:DEFT) Issues Earnings Results

DeFi Technologies (NASDAQ:DEFT) issued its quarterly earnings results on Thursday. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02), Zacks reports. DeFi Technologies had a return on equity of 42.24% and a net margin of 56.94%.

DeFi Technologies Price Performance

NASDAQ DEFT traded down $0.03 during trading hours on Thursday, reaching $0.48. The company’s stock had a trading volume of 3,256,837 shares, compared to its average volume of 1,677,861. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.10 and a current ratio of 1.10. The company’s 50-day moving average is $0.49 and its two-hundred day moving average is $0.63. DeFi Technologies has a fifty-two week low of $0.39 and a fifty-two week high of $2.80. The stock has a market cap of $186.65 million, a PE ratio of 3.64 and a beta of 3.92.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on DEFT shares. Weiss Ratings raised DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 8th. Benchmark dropped their price objective on DeFi Technologies from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Finally, Wall Street Zen upgraded DeFi Technologies from a “strong sell” rating to a “sell” rating in a research report on Monday, June 29th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2.00.

Institutional Trading of DeFi Technologies

Several institutional investors and hedge funds have recently modified their holdings of DEFT. Charles Schwab Investment Management Inc. raised its holdings in shares of DeFi Technologies by 416.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,329,284 shares of the company’s stock worth $5,531,000 after acquiring an additional 5,909,228 shares during the last quarter. Cable Car Capital LP acquired a new stake in shares of DeFi Technologies during the third quarter valued at $10,871,000. Millennium Management LLC boosted its stake in shares of DeFi Technologies by 103.6% during the fourth quarter. Millennium Management LLC now owns 5,836,397 shares of the company’s stock valued at $4,404,000 after acquiring an additional 2,969,170 shares during the last quarter. Marshall Wace LLP increased its position in DeFi Technologies by 128.0% during the 3rd quarter. Marshall Wace LLP now owns 4,384,356 shares of the company’s stock worth $9,251,000 after purchasing an additional 2,461,204 shares in the last quarter. Finally, Invesco Ltd. increased its position in DeFi Technologies by 141.4% during the 4th 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 in the last quarter.

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.