DraftKings Inc. [NASDAQ: DKNG] gained 0.99% or 0.18 points to close at $18.34 with a heavy trading volume of 6813725 shares.
The daily chart for DKNG points out that the company has recorded 14.34% gains over the past six months.
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If we look at the average trading volume of 13.25M shares, DKNG reached to a volume of 6813725 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $24.14 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 Buy, with their previous recommendation back on March 07, 2023. The new note on the price target was released on February 17, 2023, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise to $15, while ROTH MKM analysts kept a Sell rating on DKNG stock.
The Average True Range (ATR) for DraftKings Inc. is set at 0.91, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 3.74. The Price to Book ratio for the last quarter was 6.24, with the Price to Cash per share for the same quarter was set at 3.90.
Trading performance analysis for DKNG stock
DraftKings Inc. [DKNG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.27. With this latest performance, DKNG shares dropped by -2.13% in over the last four-week period, additionally plugging by 14.34% over the last 6 months – not to mention a rise of 3.73% 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 51.12, with the RSI for the last a single of trading hit 49.50, and the three-weeks RSI is set at 52.58 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 17.97, while it was recorded at 18.52 for the last single week of trading, and 15.48 for the last 200 days.
DraftKings Inc. [DKNG]: A deeper dive into fundamental analysis
DraftKings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 1.70.
DraftKings Inc. [DKNG]: An earnings per share (EPS) analysis
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 35.40%.
An analysis of insider ownership at DraftKings Inc. [DKNG]
There are presently around $4,711 million, or 58.20% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: VANGUARD GROUP INC with ownership of 35,263,897, which is approximately 1.826% of the company’s market cap and around 2.10% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 25,032,084 shares of the stock with an approximate value of $454.58 million in DKNG stocks shares; and BLACKROCK INC., currently with $278.65 million in DKNG stock with ownership of nearly 6.112% of the company’s market capitalization.
228 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 34,699,059 shares. Additionally, 247 investors decreased positions by around 35,976,425 shares, while 106 investors held positions by with 188,747,902 shares. The mentioned changes placed institutional holdings at 259,423,386 shares, according to the latest SEC report filing. DKNG stock had 78 new institutional investments in for a total of 12,722,436 shares, while 93 institutional investors sold positions of 22,977,847 shares during the same period.