Tuesday, December 1, 2020

DraftKings Inc. [DKNG] moved up 13.31: Why It’s Important

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DraftKings Inc. [NASDAQ: DKNG] closed the trading session at $41.79 on 06/15/20. The day’s price range saw the stock hit a low of $35.45, while the highest price level was $41.79. The stocks have a year to date performance of 290.56 percent and weekly performance of 9.97 percent. The stock has been moved at 314.81 percent over the last six months. The stock has performed 65.11 percent around the most recent 30 days and changed 254.15 percent over the most recent 3-months.

If compared to the average trading volume of 7.37M shares, DKNG reached to a volume of 17063003 in the most recent trading day, which is why market watchdogs consider the stock to be active.


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Here’s what leading stock market gurus have to say about DraftKings Inc. [DKNG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DKNG shares is $43.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DKNG stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 11, 2020. While these analysts kept the previous recommendation, Canaccord Genuity raised their target price from $35 to $50. The new note on the price target was released on June 03, 2020, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise to $32, while Goldman analysts kept a Neutral rating on DKNG stock. On May 18, 2020, analysts increased their price target for DKNG shares from 24 to 33.

The Average True Range (ATR) for DraftKings Inc. is set at 3.52, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 39.72. The Price to Book ratio for the last quarter was 5.36, with the Price to Cash per share for the same quarter was set at 0.00.

DKNG stock trade performance evaluation

DraftKings Inc. [DKNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.97. With this latest performance, DKNG shares gained by 65.11% in over the last four-week period, additionally plugging by 314.81% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DKNG stock in for the last two-week period is set at 69.03, with the RSI for the last a single of trading hit 67.38, and the three-weeks RSI is set at 69.67 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 26.06, while it was recorded at 38.69 for the last single week of trading.

DraftKings Inc. [DKNG]: An insightful look at the core fundamentals

DraftKings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.20.

DraftKings Inc. [DKNG]: Insider Ownership positions

There are presently around $1,131 million, or 10.10% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: FALCON EDGE CAPITAL, LP with ownership of 3,960,000, which is approximately New of the company’s market cap and around 12.90% of the total institutional ownership; FRED ALGER MANAGEMENT, LLC, holding 2,314,678 shares of the stock with an approximate value of $85.36 million in DKNG stocks shares; and NEUBERGER BERMAN GROUP LLC, currently with $66.56 million in DKNG stock with ownership of nearly New of the company’s market capitalization.

81 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 26,665,953 shares. Additionally, 55 investors decreased positions by around 24,807,586 shares, while 2 investors held positions by with 20,802,498 shares. The mentioned changes placed institutional holdings at 30,671,041 shares, according to the latest SEC report filing. DKNG stock had 69 new institutional investments in for a total of 22,470,968 shares, while 45 institutional investors sold positions of 21,034,718 shares during the same period.

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