DeFi Development (NASDAQ:DFDV) Announces Quarterly Earnings Results

Key Points

• DeFi Development reported quarterly EPS of $0.85. Its net margin was negative 1,319.45%, while return on equity was 17.97%.
• The stock traded at $3.25, near the lower end of its one-year range of $2.44 to $8.71. Insiders purchased 54,509 shares worth about $301,631 over the past three months.
• Analyst views were mixed: Cantor Fitzgerald reiterated an “overweight” rating and raised its target to $10.40, while other firms rated the stock “sell.” MarketBeat’s average rating was “Hold.”

DeFi Development (NASDAQ:DFDV - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.85 EPS for the quarter, Zacks reports. DeFi Development had a negative net margin of 1,319.45% and a positive return on equity of 17.97%.

DeFi Development Price Performance

DeFi Development stock traded up $0.01 during mid-day trading on Thursday, hitting $3.25. 783,277 shares of the company traded hands, compared to its average volume of 1,337,107. The company has a debt-to-equity ratio of 12.53, a quick ratio of 1.27 and a current ratio of 1.27. DeFi Development has a one year low of $2.44 and a one year high of $8.71. The stock has a market cap of $129.08 million, a price-to-earnings ratio of -0.33 and a beta of -3.21. The stock has a fifty day moving average price of $4.61 and a 200-day moving average price of $3.97.

Insiders Place Their Bets

In related news, insider Daniel Kang acquired 13,000 shares of the stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $2.91 per share, for a total transaction of $37,830.00. Following the transaction, the insider owned 13,000 shares in the company, valued at $37,830. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Parker White acquired 10,069 shares of the company's stock in a transaction dated Friday, August 21st. The shares were bought at an average cost of $3.91 per share, with a total value of $39,369.79. Following the completion of the acquisition, the insider directly owned 279,944 shares in the company, valued at $1,094,581.04. The trade was a 3.73% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 54,509 shares of company stock worth $301,631 in the last three months. Insiders own 19.07% of the company's stock.

Analyst Ratings Changes

DFDV has been the topic of several research analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $10.40 price target (up from $4.70) on shares of DeFi Development in a report on Thursday, September 10th. Weiss Ratings cut DeFi Development from a "hold (c)" rating to a "sell (d-)" rating in a research report on Tuesday, September 22nd. Finally, Wall Street Zen upgraded DeFi Development from a "strong sell" rating to a "sell" rating in a research report on Saturday, September 12th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $10.40.

DeFi Development Company Profile

DeFi Development Corp. NASDAQ: DFDV is a digital-asset company focused on building a Solana-based treasury and decentralized finance ecosystem. The company's strategy centers on acquiring and holding Solana (SOL) as a core treasury asset while seeking to generate additional value through staking, validator operations and participation in the Solana network. In addition to managing its digital-asset treasury, DeFi Development Corp. is developing infrastructure and applications intended to support decentralized finance on Solana.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.