There's a high bar that would need to be cleared for a Robinhood (HOOD) buyout, even after the stock's year-to-date slump, according to one analyst.

"Financially they’re not in trouble," JMP Securities analyst Devin Ryan told Yahoo Finance Live on Tuesday. "[Robinhood has] $6 billion in cash, and they’re not really burning much cash."

In Ryan's view, if a deal were to occur, it would likely have to be at a price tag well above Robinhood's current market capitalization of nearly $8 billion.

"One point that is a key aspect here for FTX or for anyone, is that Robinhood’s founders have voting rights that give them 10-to-1 on their Class B shares. So they only own 15% of the stock but they have over 60% of the voting power," Ryan said.

"So what that essentially means is that the company is not actively seeking an acquirer, in our opinion, and they would have to be on board with any price paid. So our view is that you’d need a really material premium to get those founders on board with a sale."

A Bloomberg report earlier this week suggested the cryptocurrency exchange FTX was exploring the possibility of acquiring Robinhood.

FTX CEO and founder Sam Bankman-Fried — who took a 7.6% stake in Robinhood last month — has denied any active deal discussions have taken place so far with the firm. However, the rumor has led to some speculation over the likelihood of such a tie-up.

Robinhood's stock has fallen by nearly 50% so far this year through Monday's close. Shares are hovering around $9 each — a marked decline from Robinhood's $38 per-share price in its 2021 initial public offering. But the slide in Robinhood's market valuation belies some of the points of resilience the company has still maintained, and which have given it a cushion to carry on without an acquirer, Ryan argued.

Plus, the broader market overhangs currently weighing on Robinhood's stock are ultimately set to dissipate in Ryan's view.

"We’re facing down a potential recession. And not shockingly, people are a little more timid about transacting," Ryan said. Robinhood last reported transaction-based revenues that fell 48% in the first quarter this year compared to the same period last year.