DeFi Development (NASDAQ:DFDV) Releases Earnings Results

DeFi Development (NASDAQ:DFDV) posted its earnings results on Wednesday. The company reported ($0.21) earnings per share for the quarter, Zacks reports. DeFi Development had a negative net margin of 1,136.38% and a positive return on equity of 15.58%.

DeFi Development Trading Up 0.7%

DeFi Development stock traded up $0.02 during mid-day trading on Wednesday, hitting $2.87. The company’s stock had a trading volume of 463,109 shares, compared to its average volume of 1,080,361. The company has a 50 day moving average of $2.92 and a 200-day moving average of $3.75. The stock has a market cap of $86.44 million, a PE ratio of -0.35 and a beta of -3.93. The company has a debt-to-equity ratio of 12.53, a quick ratio of 1.15 and a current ratio of 1.15. DeFi Development has a one year low of $2.44 and a one year high of $21.80.

Institutional Trading of DeFi Development

A number of large investors have recently made changes to their positions in DFDV. Pantera Capital Partners LP bought a new position in shares of DeFi Development in the third quarter worth about $13,207,000. Alyeska Investment Group L.P. bought a new stake in DeFi Development during the 3rd quarter valued at about $9,489,000. Polar Asset Management Partners Inc. bought a new stake in DeFi Development during the 3rd quarter valued at about $6,379,000. Millennium Management LLC boosted its position in DeFi Development by 215.0% in the 4th quarter. Millennium Management LLC now owns 407,794 shares of the company’s stock valued at $2,059,000 after buying an additional 278,334 shares during the period. Finally, Geode Capital Management LLC boosted its position in DeFi Development by 65.6% in the 4th quarter. Geode Capital Management LLC now owns 288,054 shares of the company’s stock valued at $1,455,000 after buying an additional 114,118 shares during the period. 0.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DFDV shares. Cantor Fitzgerald lowered their price objective on shares of DeFi Development from $7.00 to $4.70 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. Weiss Ratings restated a “hold (c)” rating on shares of DeFi Development in a research report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4.70.

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.