DeFi Development (NASDAQ:DFDV) Trading Down 1.1% – What’s Next?

DeFi Development Corp. (NASDAQ:DFDV)’s stock price dropped 1.1% during trading on Tuesday . The company traded as low as $8.11 and last traded at $8.33. Approximately 857,894 shares changed hands during trading, a decline of 51% from the average daily volume of 1,748,466 shares. The stock had previously closed at $8.42.

Wall Street Analyst Weigh In

DFDV has been the subject of several research reports. Cantor Fitzgerald upgraded DeFi Development to a “strong-buy” rating in a research report on Wednesday, August 13th. Craig Hallum started coverage on shares of DeFi Development in a report on Monday, August 4th. They issued a “buy” rating and a $25.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of DeFi Development in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of DeFi Development from a “hold” rating to a “sell” rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, DeFi Development currently has a consensus rating of “Buy” and a consensus target price of $35.00.

DeFi Development Stock Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.14 and a quick ratio of 1.14. The stock’s fifty day moving average price is $14.44. The firm has a market capitalization of $250.90 million, a P/E ratio of 12.49 and a beta of -7.77.

DeFi Development (NASDAQ:DFDV) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.18) earnings per share for the quarter. The firm had revenue of $1.99 million during the quarter.

DeFi Development declared that its Board of Directors has approved a share buyback plan on Wednesday, September 24th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 25.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

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.