DeFi Development (NASDAQ:DFDV) Announces Quarterly Earnings Results

DeFi Development (NASDAQ:DFDV) 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.