DraftKings Inc. [NASDAQ: DKNG] jumped around 1.34 points on Friday, while shares priced at $37.55 at the close of the session, up 3.70%. The company report on July 23, 2020 that DraftKings and Kambi Reach Agreement to Mutually Support and Cooperate on DraftKings Planned Migration to its Proprietary Platform Services.
DraftKings to Take Additional Steps to Safeguard Kambi’s Intellectual Property During Transition.
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DraftKings Inc. (Nasdaq: DKNG) and Kambi Group plc (Nasdaq Stockholm: KAMBI) today announced that they have reached an agreement to mutually support and cooperate on DraftKings’ planned migration from Kambi’s back-end platform services to the SBTech sports betting and iGaming platform.
DraftKings Inc. stock is now 250.93% up from its year-to-date (YTD) trading value. DKNG Stock saw the intraday high of $37.68 and lowest of $34.18 per share. The company’s 52-week high price is 44.79, which means current price is +254.25% above from all time high which was touched on 06/02/20.
Compared to the average trading volume of 13.20M shares, DKNG reached a trading volume of 10931706 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $47.18 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 1.80. 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.
Stephens have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 01, 2020. While these analysts kept the previous recommendation, Rosenblatt raised their target price to Buy. The new note on the price target was released on June 26, 2020, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise to $55, while Jefferies analysts kept a Buy rating on DKNG stock.
The Average True Range (ATR) for DraftKings Inc. is set at 2.88, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 39.25. The Price to Book ratio for the last quarter was 4.81, with the Price to Cash per share for the same quarter was set at 0.00.
How has DKNG stock performed recently?
DraftKings Inc. [DKNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.19. With this latest performance, DKNG shares dropped by -0.03% in over the last four-week period, additionally plugging by 161.49% 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 57.33, with the RSI for the last a single of trading hit 61.57, and the three-weeks RSI is set at 57.18 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 35.46, while it was recorded at 36.89 for the last single week of trading.
DraftKings Inc. [DKNG]: Deeper insight into the 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.
Insider trade positions for DraftKings Inc. [DKNG]
There are presently around $1,195 million, or 22.90% 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 10.10% of the total institutional ownership; FRED ALGER MANAGEMENT, LLC, holding 2,314,678 shares of the stock with an approximate value of $86.92 million in DKNG stocks shares; and NEUBERGER BERMAN GROUP LLC, currently with $67.77 million in DKNG stock with ownership of nearly New of the company’s market capitalization.
118 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 27,580,496 shares. Additionally, 53 investors decreased positions by around 23,776,945 shares, while 4 investors held positions by with 19,541,939 shares. The mentioned changes placed institutional holdings at 31,815,502 shares, according to the latest SEC report filing. DKNG stock had 101 new institutional investments in for a total of 23,280,956 shares, while 42 institutional investors sold positions of 19,999,348 shares during the same period.