Moreover, the 36-month beta value for DKNG is 1.89. Analysts have varying opinions on the stock, with 24 analysts rating it as a “buy,” 1 as “overweight,” 8 as “hold,” and 0 as “sell.”
The average price recommended by analysts for DraftKings Inc. (DKNG) is $39.53, which is $1.16 above the current market price. The public float for DKNG is 445.41M and currently, short sellers hold a 5.42% of that float. On November 20, 2023, DKNG’s average trading volume was 12.18M shares.
DKNG) stock’s latest price update
DraftKings Inc. (NASDAQ: DKNG)’s stock price has surge by 2.84relation to previous closing price of 37.31. Nevertheless, the company has seen a 9.53% surge in its stock price over the last five trading sessions. Seeking Alpha reported 2023-11-18 that ESPN BET, a collaboration between PENN Entertainment and ESPN/Disney, enters the sports betting market as a competitor to DraftKings. DraftKings posts strong Q3 results, becoming the top player in gross revenue for online sports betting and iGaming in the US. DraftKings has a strong customer experience and established brand, with opportunities for growth in the US and international markets.
DKNG’s Market Performance
DraftKings Inc. (DKNG) has seen a 9.53% rise in stock performance for the week, with a 38.42% gain in the past month and a 40.60% surge in the past quarter. The volatility ratio for the week is 4.99%, and the volatility levels for the past 30 days are at 5.16% for DKNG. The simple moving average for the last 20 days is 21.31% for DKNG stock, with a simple moving average of 51.19% for the last 200 days.
Analysts’ Opinion of DKNG
Many brokerage firms have already submitted their reports for DKNG stocks, with MoffettNathanson repeating the rating for DKNG by listing it as a “Buy.” The predicted price for DKNG in the upcoming period, according to MoffettNathanson is $37 based on the research report published on October 24, 2023 of the current year 2023.
DKNG Trading at 26.28% from the 50-Day Moving Average
After a stumble in the market that brought DKNG to its low price for the period of the last 52 weeks, the company was able to rebound, for now settling with 0.89% of gains for the given period.
Volatility was left at 5.16%, however, over the last 30 days, the volatility rate increased by 4.99%, as shares surge +41.74% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +20.47% upper at present.
During the last 5 trading sessions, DKNG rose by +9.53%, which changed the moving average for the period of 200-days by +125.44% in comparison to the 20-day moving average, which settled at $32.19. In addition, DraftKings Inc. saw 236.87% in overturn over a single year, with a tendency to cut further gains.
Reports are indicating that there were more than several insider trading activities at DKNG starting from Robins Jason, who sale 500,000 shares at the price of $35.83 back on Nov 08. After this action, Robins Jason now owns 3,531,898 shares of DraftKings Inc., valued at $17,915,000 using the latest closing price.
Dodge R Stanton, the Chief Legal Officer of DraftKings Inc., sale 105,554 shares at $35.82 during a trade that took place back on Nov 08, which means that Dodge R Stanton is holding 652,984 shares at $3,780,944 based on the most recent closing price.
Stock Fundamentals for DKNG
Current profitability levels for the company are sitting at:
- -67.48 for the present operating margin
- +33.75 for the gross margin
The net margin for DraftKings Inc. stands at -61.50. The total capital return value is set at -53.57, while invested capital returns managed to touch -48.97. Equity return is now at value -89.44, with -24.84 for asset returns.
Based on DraftKings Inc. (DKNG), the company’s capital structure generated 100.15 points at debt to equity in total, while total debt to capital is 50.04. Total debt to assets is 32.79, with long-term debt to equity ratio resting at 99.83. Finally, the long-term debt to capital ratio is 49.88.
When we switch over and look at the enterprise to sales, we see a ratio of 5.44, with the company’s debt to enterprise value settled at 0.27. The receivables turnover for the company is 14.50 and the total asset turnover is 0.55. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.67.
To wrap up, the performance of DraftKings Inc. (DKNG) has been better in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.