Traders Buy High Volume of DeFi Development Call Options (NASDAQ:DFDV)

by · The Markets Daily

DeFi Development Corp. (NASDAQ:DFDV – Get Free Report) was the recipient of some unusual options trading activity on Friday. Investors acquired 2,551 call options on the stock. This is an increase of approximately 54% compared to the typical daily volume of 1,658 call options.

DeFi Development Price Performance

DFDV traded down $0.55 on Friday, reaching $3.30. The stock had a trading volume of 2,187,311 shares, compared to its average volume of 1,335,696. The company has a market capitalization of $102.29 million, a price-to-earnings ratio of -0.33 and a beta of -3.59. DeFi Development has a fifty-two week low of $2.44 and a fifty-two week high of $11.55. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 12.53. The firm has a 50-day moving average of $4.85 and a 200-day moving average of $4.14.

DeFi Development (NASDAQ:DFDV – Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.21) earnings per share (EPS) for the quarter. The firm had revenue of $3.31 million during the quarter. DeFi Development had a positive return on equity of 17.97% and a negative net margin of 1,319.45%.

Insiders Place Their Bets

In related news, major shareholder Parker White acquired 9,462 shares of the stock in a transaction that occurred on Thursday, September 24th. The stock was purchased at an average price of $8.96 per share, with a total value of $84,779.52. Following the transaction, the insider owned 9,462 shares of the company’s stock, valued at approximately $84,779.52. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel Kang acquired 6,900 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The shares were bought at an average cost of $8.84 per share, for a total transaction of $60,996.00. Following the transaction, the insider directly owned 6,900 shares of the company’s stock, valued at approximately $60,996. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 54,509 shares of company stock worth $301,631 in the last 90 days. Company insiders own 23.61% of the company’s stock.

Institutional Trading of DeFi Development

A number of hedge funds have recently made changes to their positions in DFDV. BlueChip Wealth Advisors LLC purchased a new stake in DeFi Development during the first quarter valued at approximately $58,000. Squarepoint Ops LLC bought a new stake in shares of DeFi Development in the second quarter valued at about $52,000. Bank of New York Mellon Corp purchased a new position in DeFi Development in the first quarter valued at about $145,000. Headlands Technologies LLC boosted its holdings in DeFi Development by 55.7% in the second quarter. Headlands Technologies LLC now owns 78,245 shares of the company’s stock worth $230,000 after acquiring an additional 27,988 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in DeFi Development by 62.3% during the 1st quarter. NewEdge Advisors LLC now owns 83,432 shares of the company’s stock valued at $274,000 after purchasing an additional 32,024 shares during the last quarter. 0.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on DFDV. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.40 price objective (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 raised shares of DeFi Development from a “strong sell” rating to a “sell” rating in a report on Saturday, September 12th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.40.

Check Out Our Latest Report on DeFi Development

About DeFi Development

(Get Free Report)

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.

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