DeFi Development (NASDAQ:DFDV) Upgraded to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded DeFi Development from “strong sell” to “sell,” though the stock remains viewed negatively by that firm. Despite this, MarketBeat data shows a “Moderate Buy” consensus and an average price target of $10.40, including Cantor Fitzgerald’s raised $10.40 target.
• Shares opened at $5.08 and were down 1.7%, with a market capitalization of roughly $157.5 million. The stock has traded between $2.44 and $18.99 over the past year.
• DeFi Development reported a quarterly loss of $0.21 per share on $3.31 million in revenue and a deeply negative 1,319.45% net margin. Insiders have nevertheless purchased 34,069 shares worth approximately $119,880 over the past 90 days.

DeFi Development (NASDAQ:DFDV - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other research firms have also issued reports on DFDV. Cantor Fitzgerald reiterated an "overweight" rating and set a $10.40 target price (up from $4.70) on shares of DeFi Development in a report on Thursday. Weiss Ratings restated a "hold (c)" rating on shares of DeFi Development in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, DeFi Development currently has a consensus rating of "Moderate Buy" and an average target price of $10.40.

DeFi Development Stock Down 1.7%

NASDAQ:DFDV opened at $5.08 on Friday. The company has a debt-to-equity ratio of 12.53, a current ratio of 1.27 and a quick ratio of 1.27. The firm's 50-day moving average price is $3.66 and its 200-day moving average price is $3.77. The company has a market capitalization of $157.48 million, a PE ratio of -0.51 and a beta of -3.75. DeFi Development has a 1-year low of $2.44 and a 1-year high of $18.99.

DeFi Development (NASDAQ:DFDV - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.21) earnings per share (EPS) for the quarter. DeFi Development had a negative net margin of 1,319.45% and a positive return on equity of 17.97%. The business had revenue of $3.31 million for the quarter.

Insider Buying and Selling at DeFi Development

In other DeFi Development news, insider Daniel Kang purchased 13,000 shares of the stock in a transaction dated Friday, August 14th. The shares were purchased at an average cost of $2.91 per share, with a total value of $37,830.00. Following the completion of the acquisition, the insider directly owned 13,000 shares in the company, valued at $37,830. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Parker White purchased 10,069 shares of the stock in a transaction dated Friday, August 21st. The shares were acquired at an average cost of $3.91 per share, for a total transaction of $39,369.79. Following the completion of the acquisition, the insider owned 279,944 shares of the company's stock, valued at approximately $1,094,581.04. This represents a 3.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 34,069 shares of company stock valued at $119,880 in the last 90 days. Company insiders own 23.61% of the company's stock.

Institutional Trading of DeFi Development

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE purchased a new position in shares of DeFi Development during the third quarter valued at approximately $66,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of DeFi Development in the fourth quarter worth $47,000. Squarepoint Ops LLC bought a new stake in shares of DeFi Development in the fourth quarter worth $57,000. Price T Rowe Associates Inc. MD purchased a new stake in DeFi Development during the fourth quarter valued at $71,000. Finally, LPL Financial LLC purchased a new stake in DeFi Development during the fourth quarter valued at $75,000. Hedge funds and other institutional investors own 0.48% of the company's stock.

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.

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