The stock of DraftKings Inc. (DKNG) has seen a -8.01% decrease in the past week, with a -12.08% drop in the past month, and a 8.13% flourish in the past quarter. The volatility ratio for the week is 5.22%, and the volatility levels for the past 30 days are at 4.32% for DKNG. The simple moving average for the last 20 days is -10.31% for DKNG’s stock, with a simple moving average of 15.39% for the last 200 days.
Is It Worth Investing in DraftKings Inc. (NASDAQ: DKNG) Right Now?
Company’s 36-month beta value is 1.86.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for DKNG is 453.19M, and currently, short sellers hold a 4.49% ratio of that floaft. The average trading volume of DKNG on April 22, 2024 was 11.81M shares.
DKNG) stock’s latest price update
DraftKings Inc. (NASDAQ: DKNG)’s stock price has gone decline by -2.31 in comparison to its previous close of 41.64, however, the company has experienced a -8.01% decrease in its stock price over the last five trading days. The Motley Fool reported 2024-04-21 that DraftKings expects its revenue to grow by as much as 33% in 2024. Additional states legalizing online betting could further grow the size of its market.
Analysts’ Opinion of DKNG
Many brokerage firms have already submitted their reports for DKNG stocks, with Goldman repeating the rating for DKNG by listing it as a “Buy.” The predicted price for DKNG in the upcoming period, according to Goldman is $60 based on the research report published on April 16, 2024 of the current year 2024.
Needham, on the other hand, stated in their research note that they expect to see DKNG reach a price target of $58, previously predicting the price at $54. The rating they have provided for DKNG stocks is “Buy” according to the report published on March 27th, 2024.
Mizuho gave a rating of “Buy” to DKNG, setting the target price at $58 in the report published on March 26th of the current year.
DKNG Trading at -7.01% 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 unable to rebound, for now settling with -17.93% of loss for the given period.
Volatility was left at 4.32%, however, over the last 30 days, the volatility rate increased by 5.22%, as shares sank -15.16% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -4.51% lower at present.
During the last 5 trading sessions, DKNG fell by -8.01%, which changed the moving average for the period of 200-days by +55.98% in comparison to the 20-day moving average, which settled at $44.99. In addition, DraftKings Inc. saw 15.40% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at DKNG starting from Robins Jason, who sale 200,000 shares at the price of $40.89 back on Feb 21 ’24. After this action, Robins Jason now owns 3,195,812 shares of DraftKings Inc., valued at $8,178,308 using the latest closing price.
Dodge R Stanton, the Chief Legal Officer of DraftKings Inc., sale 686,101 shares at $43.06 during a trade that took place back on Feb 08 ’24, which means that Dodge R Stanton is holding 200,239 shares at $29,543,509 based on the most recent closing price.
Stock Fundamentals for DKNG
Current profitability levels for the company are sitting at:
- -0.21 for the present operating margin
- 0.37 for the gross margin
The net margin for DraftKings Inc. stands at -0.22. The total capital return value is set at -0.32. Equity return is now at value -74.17, with -20.09 for asset returns.
Based on DraftKings Inc. (DKNG), the company’s capital structure generated 0.6 points at debt to capital in total, while cash flow to debt ratio is standing at -0.0. The debt to equity ratio resting at 1.51. The interest coverage ratio of the stock is -570.1.
Currently, EBITDA for the company is -549.75 million with net debt to EBITDA at -0.11. When we switch over and look at the enterprise to sales, we see a ratio of 5.27. The receivables turnover for the company is 10.49for trailing twelve months and the total asset turnover is 0.93. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.34.
Conclusion
In a nutshell, DraftKings Inc. (DKNG) has experienced a mixed performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
