DeFi Technologies Inc. (NASDAQ:DEFT) Receives Consensus Rating of “Hold” from Analysts

Shares of DeFi Technologies Inc. (NASDAQ:DEFT) have received an average recommendation of “Hold” from the five research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $1.44.

Several analysts have recently commented on the stock. Maxim Group downgraded shares of DeFi Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Weiss Ratings downgraded shares of DeFi Technologies from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. Northland Securities set a $1.25 target price on shares of DeFi Technologies in a research note on Monday, August 17th. Wall Street Zen cut shares of DeFi Technologies to a “strong sell” rating in a report on Saturday, August 15th. Finally, Benchmark cut their price objective on shares of DeFi Technologies from $2.00 to $1.00 and set a “buy” rating on the stock in a research report on Tuesday, August 18th.

DeFi Technologies Price Performance

Shares of DeFi Technologies stock opened at $0.48 on Friday. The stock’s 50-day moving average is $0.54 and its 200 day moving average is $0.59. DeFi Technologies has a one year low of $0.39 and a one year high of $2.25. The firm has a market cap of $186.33 million, a price-to-earnings ratio of 8.00 and a beta of 4.14.

DeFi Technologies (NASDAQ:DEFT) last issued its earnings results on Thursday, August 13th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). DeFi Technologies had a return on equity of 15.43% and a net margin of 39.65%. On average, sell-side analysts expect that DeFi Technologies will post -0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in DeFi Technologies in the 1st quarter valued at $25,000. Weiss Asset Management LP raised its holdings in DeFi Technologies by 0.6% during the first quarter. Weiss Asset Management LP now owns 8,043,428 shares of the company’s stock worth $4,444,000 after buying an additional 51,459 shares during the last quarter. Amundi bought a new position in shares of DeFi Technologies in the second quarter valued at $40,000. Visionary Wealth Advisors bought a new position in shares of DeFi Technologies in the second quarter valued at $55,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of DeFi Technologies in the second quarter valued at $64,000.

About DeFi Technologies

DeFi Technologies Inc is a Canadian financial technology company focused on the digital-asset and decentralized finance ecosystem. The company develops and operates businesses that provide investors, institutions and other market participants with access to blockchain-based financial products and services.

Through its Valour brand, DeFi Technologies offers exchange-traded products designed to provide exposure to digital assets, including cryptocurrencies and other blockchain-related investments.