Benchmark Issues Pessimistic Forecast for DeFi Technologies (NASDAQ:DEFT) Stock Price

DeFi Technologies (NASDAQ:DEFT) had its target price decreased by stock analysts at Benchmark from $3.00 to $2.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s target price suggests a potential upside of 181.65% from the stock’s previous close.

A number of other brokerages also recently commented on DEFT. Wall Street Zen raised shares of DeFi Technologies from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. HC Wainwright lowered their price target on shares of DeFi Technologies from $5.50 to $2.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Maxim Group lowered their price target on shares of DeFi Technologies from $2.00 to $1.50 and set a “buy” rating for the company in a report on Monday, April 13th. B. Riley Financial reaffirmed a “buy” rating on shares of DeFi Technologies in a report on Wednesday, April 8th. Finally, Weiss Ratings raised shares of DeFi Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, April 8th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, DeFi Technologies has an average rating of “Moderate Buy” and a consensus price target of $2.00.

DeFi Technologies Price Performance

DEFT opened at $0.71 on Monday. The firm has a 50-day simple moving average of $0.71 and a two-hundred day simple moving average of $0.93. DeFi Technologies has a 52 week low of $0.47 and a 52 week high of $4.05. The company has a market capitalization of $275.44 million, a PE ratio of 7.10 and a beta of 4.07. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.02.

DeFi Technologies (NASDAQ:DEFT) last announced its quarterly earnings results on Thursday, April 2nd. The company reported $0.08 EPS for the quarter. DeFi Technologies had a net margin of 56.94% and a return on equity of 42.24%. The firm had revenue of $19.08 million during the quarter.

Institutional Trading of DeFi Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP purchased a new stake in DeFi Technologies in the 2nd quarter worth about $41,000. Jones Financial Companies Lllp raised its position in DeFi Technologies by 971.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 15,000 shares of the company’s stock worth $32,000 after purchasing an additional 13,600 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in DeFi Technologies in the 3rd quarter worth about $34,000. Shay Capital LLC purchased a new stake in DeFi Technologies in the 2nd quarter worth about $50,000. Finally, Lazard Asset Management LLC purchased a new stake in DeFi Technologies in the 2nd quarter worth about $51,000.

DeFi Technologies Company Profile

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.