Benchmark Lowers DeFi Technologies (NASDAQ:DEFT) Price Target to $1.00

DeFi Technologies (NASDAQ:DEFT) had its price objective decreased by equities research analysts at Benchmark from $2.00 to $1.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 115.05% from the stock’s previous close.

Several other brokerages also recently commented on DEFT. Northland Securities set a $1.25 price target on shares of DeFi Technologies in a report on Monday. Wall Street Zen downgraded shares of DeFi Technologies to a “strong sell” rating in a research note on Saturday. Finally, Weiss Ratings upgraded shares of DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 8th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, DeFi Technologies currently has an average rating of “Moderate Buy” and an average target price of $1.44.

DeFi Technologies Stock Down 5.0%

NASDAQ DEFT opened at $0.47 on Tuesday. The company’s 50 day moving average is $0.49 and its 200-day moving average is $0.62. The firm has a market cap of $180.51 million, a P/E ratio of 7.75 and a beta of 3.92. DeFi Technologies has a 12-month low of $0.39 and a 12-month high of $2.80.

DeFi Technologies (NASDAQ:DEFT) last posted its earnings results on Thursday, August 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02). DeFi Technologies had a return on equity of 15.43% and a net margin of 39.65%. Equities analysts expect that DeFi Technologies will post -0.01 EPS for the current year.

Institutional Investors Weigh In On DeFi Technologies

A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of DeFi Technologies during the 1st quarter valued at $25,000. Commonwealth Equity Services LLC grew its position in 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 last quarter. Royal Bank of Canada increased its stake in DeFi Technologies by 54.5% in 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. Caitong International Asset Management Co. Ltd bought a new stake in DeFi Technologies in the third quarter valued at approximately $34,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of DeFi Technologies during the fourth quarter valued at approximately $36,000.

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.