Wall Street Zen Downgrades DeFi Development (NASDAQ:DFDV) to Sell

DeFi Development (NASDAQ:DFDV) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

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

DeFi Development Stock Performance

Shares of DFDV stock opened at $7.95 on Friday. The firm has a 50 day moving average of $6.50 and a 200-day moving average of $13.19. The company has a market cap of $253.29 million, a price-to-earnings ratio of 3.13 and a beta of -7.00. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.54. DeFi Development has a 52 week low of $0.53 and a 52 week high of $53.88.

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

DeFi Development announced that its board has authorized a share 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 generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at DeFi Development

In related news, insider Daniel Kang acquired 4,200 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was purchased at an average cost of $6.90 per share, with a total value of $28,980.00. Following the acquisition, the insider owned 7,181 shares of the company’s stock, valued at approximately $49,548.90. This trade represents a 140.89% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Parker White bought 17,760 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was bought at an average price of $5.76 per share, for a total transaction of $102,297.60. Following the acquisition, the chief operating officer directly owned 269,875 shares of the company’s stock, valued at approximately $1,554,480. This represents a 7.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 32,004 shares of company stock valued at $200,682 in the last quarter. Company insiders own 19.24% of the company’s stock.

Hedge Funds Weigh In On DeFi Development

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE bought a new stake in shares of DeFi Development in the 3rd quarter worth $66,000. Lauer Wealth LLC purchased a new position in DeFi Development during the fourth quarter worth about $306,000. Centiva Capital LP bought a new stake in DeFi Development in the 3rd quarter worth about $469,000. NewEdge Advisors LLC bought a new stake in DeFi Development in the 3rd quarter worth about $478,000. Finally, UBS Group AG purchased a new stake in DeFi Development in the 3rd quarter valued at about $693,000. 0.48% of the stock is owned by hedge funds and other institutional investors.

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.