DeFi Development (NASDAQ:DFDV) Releases Earnings Results

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

DeFi Development Trading Up 0.2%

Shares of NASDAQ DFDV traded up $0.01 during midday trading on Thursday, reaching $3.25. The company had a trading volume of 783,277 shares, compared to its average volume of 1,337,107. DeFi Development has a one year low of $2.44 and a one year high of $8.71. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 12.53. The firm’s fifty day moving average price is $4.61 and its 200-day moving average price is $3.97. The stock has a market cap of $129.08 million, a PE ratio of -0.33 and a beta of -3.21.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on DFDV. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.40 target price (up from $4.70) on shares of DeFi Development in a research note on Thursday, September 10th. Weiss Ratings downgraded shares of DeFi Development from a “hold (c)” rating to a “sell (d-)” rating in a research note on Tuesday, September 22nd. Finally, Wall Street Zen raised shares of DeFi Development from a “strong sell” rating to a “sell” rating in a research note 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, DeFi Development has an average rating of “Hold” and an average 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.