DraftKings Inc. [NASDAQ: DKNG] plunged by -$2.88 during the normal trading session on Wednesday and reaching a high of $48.0764 during the day while it closed the day at $44.85. The company report on July 15, 2021 that Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against AcelRx, Ocugen, Tarena, and DraftKings and Encourages Investors to Contact the Firm.
Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of AcelRx Pharmaceuticals, Inc. (NASDAQ: ACRX), Ocugen, Inc. (NASDAQ: OCGN), Tarena International, Inc. (NASDAQ: TEDU), and DraftKings, Inc. (NASDAQ: DKNG). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
AcelRx Pharmaceuticals, Inc. (NASDAQ: ACRX).
DraftKings Inc. stock has also loss -8.00% of its value over the past 7 days. However, DKNG stock has declined by -23.83% in the 3 months of the year. Over the past six months meanwhile, it has lost -16.00% and lost -3.67% year-on date.
The market cap for DKNG stock reached $17.68 billion, with 397.62 million shares outstanding and 366.61 million shares in the current float. Compared to the average trading volume of 16.00M shares, DKNG reached a trading volume of 13627050 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 $70.41 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.
Berenberg have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 12, 2021. The new note on the price target was released on May 03, 2021, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise to $75, while Guggenheim analysts kept a Buy rating on DKNG stock.
The Average True Range (ATR) for DraftKings Inc. is set at 2.23, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 21.09. The Price to Book ratio for the last quarter was 7.68, with the Price to Cash per share for the same quarter was set at 7.92.
DKNG stock trade performance evaluation
DraftKings Inc. [DKNG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.00. With this latest performance, DKNG shares dropped by -11.40% in over the last four-week period, additionally sinking by -16.00% over the last 6 months – not to mention a rise of 48.44% 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 31.90, with the RSI for the last a single of trading hit 23.71, and the three-weeks RSI is set at 36.78 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 49.28, while it was recorded at 47.82 for the last single week of trading, and 53.24 for the last 200 days.
DraftKings Inc. [DKNG]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and DraftKings Inc. [DKNG] shares currently have an operating margin of -132.19 and a Gross Margin at +43.60. DraftKings Inc.’s Net Margin is presently recorded at -200.45.
Return on Total Capital for DKNG is now -52.37, given the latest momentum, and Return on Invested Capital for the company is -79.75. Return on Equity for this stock declined to -81.56, with Return on Assets sitting at -64.09. When it comes to the capital structure of this company, DraftKings Inc. [DKNG] has a Total Debt to Total Equity ratio set at 3.10. Additionally, DKNG Total Debt to Total Capital is recorded at 3.01, with Total Debt to Total Assets ending up at 2.37. Long-Term Debt to Equity for the company is recorded at 2.61, with the Long-Term Debt to Total Capital now at 2.54.
Reflecting on the efficiency of the workforce at the company, DraftKings Inc. [DKNG] managed to generate an average of -$473,783 per employee. Receivables Turnover for the company is 16.44 with a Total Asset Turnover recorded at a value of 0.32.DraftKings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.00 and a Current Ratio set at 5.00.
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 30.30%.
DraftKings Inc. [DKNG]: Insider Ownership positions
There are presently around $10,023 million, or 55.20% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: VANGUARD GROUP INC with ownership of 24,104,146, which is approximately 2.546% of the company’s market cap and around 7.90% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 18,399,555 shares of the stock with an approximate value of $825.22 million in DKNG stocks shares; and RAINE CAPITAL LLC, currently with $750.94 million in DKNG stock with ownership of nearly 0% of the company’s market capitalization.
Positions in DraftKings Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 441 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 46,899,805 shares. Additionally, 263 investors decreased positions by around 21,485,792 shares, while 72 investors held positions by with 155,096,267 shares. The mentioned changes placed institutional holdings at 223,481,864 shares, according to the latest SEC report filing. DKNG stock had 174 new institutional investments in for a total of 23,246,001 shares, while 80 institutional investors sold positions of 3,220,617 shares during the same period.