Friday, January 22, 2021

DraftKings Inc. [DKNG] Is Currently 5.35 below its 200 Period Moving Avg: What Dose This Mean?

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DraftKings Inc. [NASDAQ: DKNG] surged by $2.16 during the normal trading session on Thursday and reaching a high of $44.08 during the day while it closed the day at $42.54. The company report on September 10, 2020 that DraftKings Names Erik Bradbury as Company’s Chief Accounting Officer.

DraftKings Inc. (Nasdaq: DKNG) today announced that Erik Bradbury has been named the Company’s Chief Accounting Officer and principal accounting officer effective September 10, 2020, reporting to Jason Park, the Company’s Chief Financial Officer. Mr. Bradbury, who brings more than 16 years of experience in corporate accounting to DraftKings, was most recently a Partner with Ernst & Young and served as a Professional Accounting Fellow at Financial Executives International.


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“We are thrilled to have Erik join DraftKings at this exciting time,” said Jason Park, DraftKings Chief Financial Officer. “Erik brings a breadth of expertise working with public companies applying U.S. GAAP, IFRS, and SEC reporting requirements, which will enhance our already strong corporate accounting team and help scale this function as the Company continues to grow.”.

DraftKings Inc. stock has also gained 6.62% of its value over the past 7 days. However, DKNG stock has inclined by 17.25% in the 3 months of the year. Over the past six months meanwhile, it has gained 280.84% and gained 297.57% year-on date.

The market cap for DKNG stock reached $15.64 billion, with 353.84 million shares outstanding and 278.59 million shares in the current float. Compared to the average trading volume of 13.87M shares, DKNG reached a trading volume of 29477912 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $46.75 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 2.10. 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.

Evercore ISI have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 09, 2020. While these analysts kept the previous recommendation, BofA Securities raised their target price to Neutral. The new note on the price target was released on September 08, 2020, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise to $39, while Truist analysts kept a Hold rating on DKNG stock.

The Average True Range (ATR) for DraftKings Inc. is set at 2.93, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 43.77. The Price to Book ratio for the last quarter was 5.45, 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 6.62. With this latest performance, DKNG shares gained by 32.77% in over the last four-week period, additionally plugging by 280.84% 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 65.48, with the RSI for the last a single of trading hit 68.30, and the three-weeks RSI is set at 61.37 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 35.19, while it was recorded at 39.04 for the last single week of trading, and 23.22 for the last 200 days.

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.

Earnings per share (EPS) analysis for DraftKings Inc. [DKNG] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DKNG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for DraftKings Inc. go to 40.00%.

DraftKings Inc. [DKNG]: Insider Ownership positions

There are presently around $7,785 million, or 51.50% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: VANGUARD GROUP INC with ownership of 22,640,839, which is approximately New of the company’s market cap and around 10.10% of the total institutional ownership; RAINE CAPITAL LLC, holding 21,715,872 shares of the stock with an approximate value of $923.79 million in DKNG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $732.47 million in DKNG stock with ownership of nearly New of the company’s market capitalization.

274 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 166,304,069 shares. Additionally, 48 investors decreased positions by around 13,969,849 shares, while 3 investors held positions by with 2,730,426 shares. The mentioned changes placed institutional holdings at 183,004,344 shares, according to the latest SEC report filing. DKNG stock had 233 new institutional investments in for a total of 151,277,357 shares, while 22 institutional investors sold positions of 7,499,964 shares during the same period.

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