DeFi Development (NASDAQ:DFDV) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of DeFi Development (NASDAQ:DFDV) from a hold rating to a sell rating in a research report released on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of DeFi Development in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, DeFi Development currently has a consensus rating of “Buy” and an average target price of $35.00.

DeFi Development Stock Up 8.6%

DeFi Development stock opened at $7.95 on Friday. DeFi Development has a 12 month low of $0.53 and a 12 month high of $53.88. The stock has a fifty day simple moving average of $6.50 and a two-hundred day simple moving average of $13.24. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.54. The firm has a market cap of $253.26 million, a price-to-earnings ratio of 3.13 and a beta of -7.00.

DeFi Development (NASDAQ:DFDV) last announced its quarterly earnings results on Wednesday, November 19th. The company reported $1.88 earnings per share (EPS) for the quarter. The business had revenue of $1.86 million for the quarter.

DeFi Development declared that its Board of Directors has authorized a stock buyback program on Wednesday, September 24th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 25.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other DeFi Development news, insider Daniel Kang acquired 4,200 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was purchased at an average price of $6.90 per share, with a total value of $28,980.00. Following the transaction, the insider directly owned 7,181 shares in the company, valued at approximately $49,548.90. The trade was a 140.89% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Parker White acquired 17,760 shares of DeFi Development stock in a transaction dated Wednesday, December 10th. The stock was bought at an average price of $5.76 per share, with a total value of $102,297.60. Following the completion of the purchase, the chief operating officer directly owned 269,875 shares in the company, valued at $1,554,480. This represents a 7.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 32,004 shares of company stock valued at $200,682. 19.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. UBS Group AG purchased a new position in shares of DeFi Development during the 3rd quarter valued at about $693,000. Polar Asset Management Partners Inc. bought a new stake in DeFi Development during the 3rd quarter worth approximately $6,379,000. Bank of America Corp DE purchased a new position in DeFi Development during the third quarter valued at approximately $66,000. Centiva Capital LP bought a new position in shares of DeFi Development in the third quarter worth approximately $469,000. Finally, Millennium Management LLC bought a new position in shares of DeFi Development in the third quarter worth approximately $1,982,000. Institutional investors own 0.48% of the company’s stock.

About DeFi Development

We are a B2B fintech marketplace connecting commercial property borrowers and lenders with a human touch. We seek to revolutionize the commercial real estate lending market by making it hyper-efficient, transparent, and accessible to all rather than the few. Through our online platform, we provide technology that connects commercial mortgage borrowers looking for capital to refinance, build, or purchase commercial property, including, but not limited to, apartment buildings, to commercial property lenders.