DeFi Technologies (NASDAQ:DEFT) Downgraded to “Sell” Rating by Wall Street Zen

DeFi Technologies (NASDAQ:DEFT) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Friday.

Other analysts have also issued research reports about the stock. Maxim Group lifted their price objective on shares of DeFi Technologies from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. HC Wainwright reiterated a “buy” rating and set a $5.50 price objective on shares of DeFi Technologies in a research note on Tuesday, August 19th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $6.25.

DeFi Technologies Trading Up 2.5%

Shares of DEFT stock opened at $2.03 on Friday. The firm has a market capitalization of $685.75 million, a PE ratio of 22.56 and a beta of 3.86. DeFi Technologies has a fifty-two week low of $1.50 and a fifty-two week high of $4.95. The firm’s 50 day simple moving average is $2.67.

DeFi Technologies (NASDAQ:DEFT) last posted its quarterly earnings data on Thursday, August 14th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The firm had revenue of $13.42 million for the quarter, compared to analysts’ expectations of $42.08 million. DeFi Technologies had a net margin of 43.38% and a return on equity of 137.53%.

Institutional Trading of DeFi Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in DEFT. Wealth Enhancement Advisory Services LLC bought a new stake in shares of DeFi Technologies in the second quarter worth $76,000. Public Employees Retirement System of Ohio bought a new stake in shares of DeFi Technologies in the second quarter worth $196,000. Novem Group bought a new stake in shares of DeFi Technologies in the second quarter worth $43,000. HighMark Wealth Management LLC bought a new stake in shares of DeFi Technologies in the second quarter worth $35,000. Finally, Capital Advisors Inc. OK bought a new stake in shares of DeFi Technologies in the second quarter worth $88,000.

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.