DeFi Technologies (NASDAQ:DEFT) Releases Earnings Results

DeFi Technologies (NASDAQ:DEFT) issued its quarterly earnings results on Thursday. The company reported $0.03 EPS for the quarter, Zacks reports. DeFi Technologies had a net margin of 39.65% and a return on equity of 15.43%.

DeFi Technologies Stock Performance

Shares of NASDAQ:DEFT traded down $0.03 during midday trading on Thursday, reaching $0.30. The company’s stock had a trading volume of 2,801,791 shares, compared to its average volume of 3,938,714. The firm has a market capitalization of $117.90 million, a price-to-earnings ratio of 5.06 and a beta of 4.29. The firm has a 50 day moving average price of $0.48 and a two-hundred day moving average price of $0.59. DeFi Technologies has a fifty-two week low of $0.30 and a fifty-two week high of $1.70.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DEFT. Wall Street Zen lowered DeFi Technologies to a “strong sell” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded DeFi Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Maxim Group lowered DeFi Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Northland Securities set a $1.25 price target on DeFi Technologies in a research note on Monday, August 17th. Finally, Benchmark lowered their price objective on DeFi Technologies from $2.00 to $1.00 and set a “buy” rating for the company in a research report on Tuesday, August 18th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, DeFi Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $1.44.

About DeFi Technologies

DeFi Technologies is a Canadian financial technology company focused on providing traditional investors with access to digital assets and decentralized finance. Its business includes exchange-traded products, institutional digital-asset services, research and trading activities. Through its subsidiary Valour, the company issues digital-asset exchange-traded products that give investors exposure to cryptocurrencies through traditional securities markets. Valour’s products are available on exchanges in multiple international markets, including Europe.