DraftKings Inc. [DKNG] fell -44.89% so far this year. What now?

DraftKings Inc. [NASDAQ: DKNG] plunged by -$0.19 during the normal trading session on Friday and reaching a high of $15.819 during the day while it closed the day at $15.14. The company report on September 30, 2022 that The Larry Fitzgerald Foundation To Join DraftKings in Fourth Annual Charity Initiative To Raise $100,000 for Breast Cancer Awareness Month.


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DraftKings Inc. (Nasdaq:DKNG) today announced that this October, during Breast Cancer Awareness Month, the company will host its fourth annual Pink ‘Em charity initiative in collaboration with The Larry Fitzgerald Foundation with a goal of donating $100,000 for breast cancer research and support for those impacted. Since launching the Pink ‘Em initiative in 2019, DraftKings’ monthlong program has received over $330,000 in donations through free-to-play, pick ‘em pools during the NFL’s October game slate. This October, the Pink ‘Em initiative will be featured in its first company-wide brand campaign for DraftKings, following the recent appointment of Larry Fitzgerald as an official DraftKings brand ambassador.

“With millions of football fans playing on DraftKings every week of the NFL season, we have an exciting opportunity to leverage our platform to empower significant causes like Breast Cancer Awareness Month through our Pink ‘Em initiative,” said Jason Robins, CEO and co-founder of DraftKings. “Raising over $330,000 for The Larry Fitzgerald Foundation with this program is no small feat, and I look forward to seeing our player community engaged once again to reach our donation goal this October.”.

DraftKings Inc. stock has also gained 1.07% of its value over the past 7 days. However, DKNG stock has inclined by 28.63% in the 3 months of the year. Over the past six months meanwhile, it has lost -22.24% and lost -44.89% year-on date.

The market cap for DKNG stock reached $6.88 billion, with 437.03 million shares outstanding and 434.23 million shares in the current float. Compared to the average trading volume of 19.59M shares, DKNG reached a trading volume of 14620513 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 $26.44 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.

ROTH Capital have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 17, 2022. While these analysts kept the previous recommendation, Barclays raised their target price to Equal Weight. The new note on the price target was released on June 29, 2022, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise to $25, while JMP Securities analysts kept a Mkt Outperform rating on DKNG stock.

The Average True Range (ATR) for DraftKings Inc. is set at 1.01, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 4.38. The Price to Book ratio for the last quarter was 3.75, with the Price to Cash per share for the same quarter was set at 4.27.

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 1.07. With this latest performance, DKNG shares dropped by -5.73% in over the last four-week period, additionally sinking by -22.24% over the last 6 months – not to mention a drop of -68.56% 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 41.50, with the RSI for the last a single of trading hit 38.08, and the three-weeks RSI is set at 44.48 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 16.80, while it was recorded at 15.25 for the last single week of trading, and 17.73 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 -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 2.30 and a Current Ratio set at 2.30.

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 -6.80%.

DraftKings Inc. [DKNG]: Insider Ownership positions

There are presently around $3,766 million, or 56.60% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: VANGUARD GROUP INC with ownership of 32,510,261, which is approximately 12.266% of the company’s market cap and around 2.10% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 25,275,813 shares of the stock with an approximate value of $382.68 million in DKNG stocks shares; and BLACKROCK INC., currently with $222.96 million in DKNG stock with ownership of nearly -15.5% of the company’s market capitalization.

Positions in DraftKings Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 218 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 31,976,739 shares. Additionally, 318 investors decreased positions by around 71,715,038 shares, while 110 investors held positions by with 145,023,525 shares. The mentioned changes placed institutional holdings at 248,715,302 shares, according to the latest SEC report filing. DKNG stock had 62 new institutional investments in for a total of 12,853,566 shares, while 138 institutional investors sold positions of 34,146,601 shares during the same period.

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