DeFi Development (NASDAQ:DFDV) Trading Down 3.8% – Here’s What Happened

DeFi Development Corp. (NASDAQ:DFDV) traded down 3.8% on Friday . The stock traded as low as $2.44 and last traded at $2.56. 575,572 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 607,437 shares. The stock had previously closed at $2.66.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Cantor Fitzgerald decreased their price objective on DeFi Development from $7.00 to $4.70 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Weiss Ratings restated a “hold (c)” rating on shares of DeFi Development in a research note on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, DeFi Development currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.85.

DeFi Development Trading Down 3.8%

The company has a debt-to-equity ratio of 12.53, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market cap of $77.11 million, a P/E ratio of -0.31 and a beta of -4.12. The stock has a 50-day moving average price of $3.07 and a 200-day moving average price of $4.01.

DeFi Development (NASDAQ:DFDV) last announced its earnings results on Tuesday, May 19th. The company reported ($0.37) earnings per share for the quarter. DeFi Development had a negative net margin of 1,136.38% and a positive return on equity of 15.58%. The company had revenue of $2.66 million during the quarter.

Hedge Funds Weigh In On DeFi Development

Institutional investors have recently modified their holdings of the company. Pantera Capital Partners LP purchased a new position in shares of DeFi Development during the third quarter worth approximately $13,207,000. Alyeska Investment Group L.P. purchased a new stake in DeFi Development during the third quarter valued at about $9,489,000. Polar Asset Management Partners Inc. bought a new position in shares of DeFi Development during the third quarter valued at about $6,379,000. Millennium Management LLC lifted its stake in shares of DeFi Development by 215.0% in the 4th quarter. Millennium Management LLC now owns 407,794 shares of the company’s stock valued at $2,059,000 after acquiring an additional 278,334 shares during the last quarter. Finally, 683 Capital Management LLC bought a new position in DeFi Development during the 4th quarter worth approximately $596,000. 0.48% of the stock is currently owned by institutional investors.

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.