DeFi Development (NASDAQ:DFDV) Stock Price Down 1.1% – Time to Sell?

DeFi Development Corp. (NASDAQ:DFDV)’s share price was down 1.1% during trading on Tuesday . The company traded as low as $8.11 and last traded at $8.33. Approximately 857,894 shares were traded during mid-day 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 Analysts Forecast Growth

A number of brokerages have recently issued reports on DFDV. Weiss Ratings reiterated a “hold (c)” rating on shares of DeFi Development in a report on Wednesday, October 8th. Wall Street Zen cut shares of DeFi Development from a “hold” rating to a “sell” rating in a research report on Friday, September 5th. Cantor Fitzgerald raised shares of DeFi Development to a “strong-buy” rating in a research report on Wednesday, August 13th. Finally, Craig Hallum assumed coverage on shares of DeFi Development in a research note on Monday, August 4th. They issued a “buy” rating and a $25.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $35.00.

DeFi Development Trading Down 1.1%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.14 and a current ratio of 1.14. The stock’s 50 day moving average is $14.44. The firm has a market cap of $250.90 million, a PE ratio of 12.49 and a beta of -7.77.

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

DeFi Development announced that its board has initiated a stock repurchase plan on Wednesday, September 24th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 25.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

DeFi Development Company Profile

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.