DraftKings Inc. [DKNG] Is Currently 5.02 below its 200 Period Moving Avg: What Dose This Mean?

DraftKings Inc. [NASDAQ: DKNG] stock went on an upward path that rose over 5.02% on Friday, amounting to a one-week price increase of more than 6.95%. The company report on November 25, 2020 that DraftKings Teams with Triller to Become the Official Sports Betting Partner of Mike Tyson vs. Roy Jones Jr. Boxing Match.

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World Boxing Athletic Commission to Both Score and Determine Winner for November 28th Fight With Wagering Available via DraftKings.

“A Knockout Will be a Win”.

Over the last 12 months, DKNG stock rose by 425.26%. The one-year DraftKings Inc. stock forecast points to a potential upside of 12.48. The average equity rating for DKNG stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $19.68 billion, with 391.71 million shares outstanding and 330.89 million shares in the current float. Compared to the average trading volume of 27.67M shares, DKNG stock reached a trading volume of 15829042 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $60.27 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 2.20. 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.

UBS have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 24, 2020. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Overweight. The new note on the price target was released on November 20, 2020, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise to $48, while Deutsche Bank analysts kept a Hold rating on DKNG stock.

The Average True Range (ATR) for DraftKings Inc. is set at 2.68, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 123.36. The Price to Book ratio for the last quarter was 7.03, with the Price to Cash per share for the same quarter was set at 3.69.

DKNG Stock Performance Analysis:

DraftKings Inc. [DKNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.95. With this latest performance, DKNG shares gained by 38.27% in over the last four-week period, additionally plugging by 20.71% over the last 6 months – not to mention a rise of 425.26% in the past year of trading.

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 65.40, with the RSI for the last a single of trading hit 77.79, and the three-weeks RSI is set at 62.88 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 47.28, while it was recorded at 49.43 for the last single week of trading, and 32.90 for the last 200 days.

Insight into DraftKings Inc. Fundamentals:

DraftKings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.40 and a Current Ratio set at 5.40.

DKNG Stock EPS

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 Position Details

There are presently around $9,612 million, or 46.70% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: RAINE CAPITAL LLC with ownership of 21,715,872, which is approximately 0% of the company’s market cap and around 9.40% of the total institutional ownership; VANGUARD GROUP INC, holding 20,756,583 shares of the stock with an approximate value of $1.09 billion in DKNG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $1.01 billion in DKNG stock with ownership of nearly 11.456% of the company’s market capitalization.

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287 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 25,163,855 shares. Additionally, 150 investors decreased positions by around 25,857,611 shares, while 28 investors held positions by with 131,203,053 shares. The mentioned changes placed institutional holdings at 182,224,519 shares, according to the latest SEC report filing. DKNG stock had 169 new institutional investments in for a total of 11,849,414 shares, while 65 institutional investors sold positions of 8,040,376 shares during the same period.

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