DraftKings Inc. [NASDAQ: DKNG] gained 1.36% on the last trading session, reaching $32.04 price per share at the time. The company report on August 6, 2020 that DraftKings Expands Exclusive Partnership with Major League Baseball.
Further Enhances Gaming Experiences for Sports Fans.
DraftKings Inc. (Nasdaq: DKNG) and Major League Baseball today announced a multi-year extension to remain the Official and Exclusive Daily Fantasy Sports (DFS) Partner of the League. The extension includes an expanded partnership providing for an increase in DraftKings’ content rights, product integration, prizing and continued use of MLB images and video within DraftKings’ DFS games. The extension of the partnership between Major League Baseball and DraftKings reinforces both entities’ dedication to enhancing the overall gaming experience for sports fans.
DraftKings Inc. represents 353.84 million in outstanding shares, while the company has a total market value of $11.09 billion with the latest information. DKNG stock price has been found in the range of $31.50 to $33.2267.
If compared to the average trading volume of 13.84M shares, DKNG reached a trading volume of 9505078 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $46.73 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.
The Benchmark Company have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 31, 2020. While these analysts kept the previous recommendation, Stephens raised their target price to Overweight. The new note on the price target was released on July 01, 2020, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise to $60, while Rosenblatt analysts kept a Buy rating on DKNG stock.
The Average True Range (ATR) for DraftKings Inc. is set at 2.46, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 34.28. The Price to Book ratio for the last quarter was 4.11, with the Price to Cash per share for the same quarter was set at 0.00.
Trading performance analysis for DKNG stock
DraftKings Inc. [DKNG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.09. With this latest performance, DKNG shares gained by 8.61% in over the last four-week period, additionally plugging by 90.49% 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 42.67, with the RSI for the last a single of trading hit 39.92, and the three-weeks RSI is set at 46.02 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 35.73, while it was recorded at 32.79 for the last single week of trading, and 20.37 for the last 200 days.
DraftKings Inc. [DKNG]: A deeper dive into fundamental analysis
DraftKings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.20.
An analysis of insider ownership at DraftKings Inc. [DKNG]
There are presently around $1,534 million, or 26.50% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: ATLAS VENTURE ADVISORS, INC. with ownership of 8,284,008, which is approximately New of the company’s market cap and around 10.10% of the total institutional ownership; SHERPACAPITAL, LLC, holding 6,311,415 shares of the stock with an approximate value of $202.22 million in DKNG stocks shares; and FALCON EDGE CAPITAL, LP, currently with $126.88 million in DKNG stock with ownership of nearly New of the company’s market capitalization.
177 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 42,257,527 shares. Additionally, 55 investors decreased positions by around 21,184,073 shares, while 4 investors held positions by with 15,569,055 shares. The mentioned changes placed institutional holdings at 47,872,545 shares, according to the latest SEC report filing. DKNG stock had 153 new institutional investments in for a total of 37,368,074 shares, while 42 institutional investors sold positions of 18,025,938 shares during the same period.