DeFi Development Corp. (NASDAQ:DFDV - Get Free Report)'s share price shot up 2.8% during mid-day trading on Monday . The company traded as high as $16.24 and last traded at $16.15. 1,930,788 shares changed hands during trading, a decline of 9% from the average session volume of 2,114,065 shares. The stock had previously closed at $15.71.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on DFDV. Craig Hallum began coverage on shares of DeFi Development in a research note on Monday, August 4th. They set a "buy" rating and a $25.00 price target on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of DeFi Development in a report on Wednesday, October 8th. Cantor Fitzgerald raised shares of DeFi Development to a "strong-buy" rating in a report on Wednesday, August 13th. Finally, Wall Street Zen downgraded shares of DeFi Development from a "hold" rating to a "sell" rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $35.00.
Read Our Latest Stock Analysis on DeFi Development
DeFi Development Price Performance
The business has a fifty day simple moving average of $16.35. The stock has a market capitalization of $412.96 million, a PE ratio of 24.21 and a beta of -7.62. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.18) earnings per share (EPS) 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 share buyback program on Wednesday, September 24th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 25.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.
About DeFi Development
(
Get Free Report)
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.
See Also
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