DeFi Technologies (NASDAQ:DEFT) Trading Down 4% – Time to Sell?

DeFi Technologies Inc. (NASDAQ:DEFT)’s share price was down 4% during mid-day trading on Thursday . The stock traded as low as $1.2850 and last traded at $1.3150. Approximately 1,470,092 shares were traded during trading, a decline of 67% from the average daily volume of 4,403,311 shares. The stock had previously closed at $1.37.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of DeFi Technologies in a research report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $5.50 target price on shares of DeFi Technologies in a research note on Friday, September 26th. Benchmark dropped their price target on DeFi Technologies from $8.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Northland Securities set a $2.50 price target on shares of DeFi Technologies in a research note on Monday, November 17th. Finally, Wall Street Zen cut shares of DeFi Technologies from a “hold” rating to a “sell” rating in a research report on Sunday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4.50.

DeFi Technologies Stock Down 4.0%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s 50 day simple moving average is $1.77 and its 200 day simple moving average is $2.46. The firm has a market cap of $507.04 million, a P/E ratio of 26.31 and a beta of 3.82.

DeFi Technologies (NASDAQ:DEFT) last announced its quarterly earnings results on Friday, November 14th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $22.53 million during the quarter, compared to the consensus estimate of $41.00 million. DeFi Technologies had a net margin of 23.89% and a return on equity of 105.69%.

Institutional Investors Weigh In On DeFi Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. WNY Asset Management LLC bought a new stake in DeFi Technologies in the second quarter worth about $29,000. OMERS ADMINISTRATION Corp bought a new stake in shares of DeFi Technologies in the 2nd quarter worth approximately $31,000. HighMark Wealth Management LLC bought a new stake in shares of DeFi Technologies in the 2nd quarter worth approximately $35,000. Brookstone Capital Management purchased a new position in DeFi Technologies in the second quarter valued at approximately $37,000. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of DeFi Technologies during the 2nd quarter worth $39,000.

About DeFi Technologies

DeFi Technologies, Inc engages in the provision of investment services. It plans to acquire equity, debt, or other securities of publicly traded or private companies or other entities. The firm offers DeFi ETNs, DeFi Governance, DeFi Venture and DeFi Treasury. The company was founded by Olivier Francois Roussy Newton and Wouter Witvoet on April 14, 1986 and is headquartered in Toronto, Canada.