DraftKings Inc. [DKNG] is -48.93% lower this YTD. Is it still time to buy?

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DraftKings Inc. [NASDAQ: DKNG] price plunged by -2.30 percent to reach at -$0.33. The company report on April 22, 2022 that DraftKings Celebrates Earth Day and Reaches Goal of Funding the Planting of One Million Trees by Earth Day 2022.

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DraftKings is collaborating with Gisele Bundchen and the Arbor Day Foundation to create a global impact through a variety of tree planting campaigns.

A sum of 23972574 shares traded at recent session while its average daily volume was at 27.47M shares. DraftKings Inc. shares reached a high of $14.715 and dropped to a low of $13.73 until finishing in the latest session at $14.03.

The one-year DKNG stock forecast points to a potential upside of 58.19. The average equity rating for DKNG stock is currently 2.30, trading closer to a bullish pattern in the stock market.

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 $33.56 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 2.30. 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.

Argus have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 07, 2022. While these analysts kept the previous recommendation, ROTH Capital dropped their target price from $23 to $19. The new note on the price target was released on February 22, 2022, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another drop from $30 to $22, while Truist kept a Hold rating on DKNG stock. On February 22, 2022, analysts decreased their price target for DKNG shares from 35 to 32.

The Average True Range (ATR) for DraftKings Inc. is set at 1.34, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 4.91. The Price to Book ratio for the last quarter was 3.41, with the Price to Cash per share for the same quarter was set at 5.80.

DKNG Stock Performance Analysis:

DraftKings Inc. [DKNG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.92. With this latest performance, DKNG shares dropped by -25.81% in over the last four-week period, additionally sinking by -71.32% over the last 6 months – not to mention a drop of -75.86% 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 33.80, with the RSI for the last a single of trading hit 28.45, and the three-weeks RSI is set at 36.94 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 19.01, while it was recorded at 15.36 for the last single week of trading, and 36.09 for the last 200 days.

Insight into DraftKings Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and DraftKings Inc. [DKNG] shares currently have an operating margin of -114.62 and a Gross Margin at +38.72. DraftKings Inc.’s Net Margin is presently recorded at -117.53.

Return on Equity for this stock declined to -70.68, with Return on Assets sitting at -40.57.

DraftKings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.00 and a Current Ratio set at 3.00.

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 -6.80%.

DraftKings Inc. [DKNG] Insider Position Details

There are presently around $3,882 million, or 66.50% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: VANGUARD GROUP INC with ownership of 26,338,845, which is approximately 6.555% of the company’s market cap and around 2.10% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 23,416,465 shares of the stock with an approximate value of $328.53 million in DKNG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $277.1 million in DKNG stock with ownership of nearly -0.006% of the company’s market capitalization.

Positions in DraftKings Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 321 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 46,283,690 shares. Additionally, 391 investors decreased positions by around 30,315,191 shares, while 96 investors held positions by with 200,086,122 shares. The mentioned changes placed institutional holdings at 276,685,003 shares, according to the latest SEC report filing. DKNG stock had 116 new institutional investments in for a total of 11,285,820 shares, while 167 institutional investors sold positions of 5,731,823 shares during the same period.