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

DeFi Development Corp. (NASDAQ:DFDV) shares were 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.

Analyst Ratings Changes

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

DeFi Development Price Performance

The company has a 50-day moving average price of $14.44. The stock has a market cap of $250.90 million, a P/E ratio of 12.49 and a beta of -7.77. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.14 and a quick ratio of 1.14.

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

DeFi Development announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, September 24th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 25.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are 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.