Moreover, the 36-month beta value for DKNG is 1.81. Analysts have varying 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 467.06M and currently, short sellers hold a 4.23% of that float. On August 16, 2024, DKNG’s average trading volume was 10.41M shares.
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DKNG) stock’s latest price update
DraftKings Inc. (NASDAQ: DKNG)’s stock price has gone decline by -0.91 in comparison to its previous close of 34.14, however, the company has experienced a 11.51% increase in its stock price over the last five trading days. accesswire.com reported 2024-08-16 that LOS ANGELES, CA / ACCESSWIRE / August 16, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of DraftKings Inc. (“DraftKings” or “the Company”) (NASDAQ:DKNG) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
DKNG’s Market Performance
DraftKings Inc. (DKNG) has experienced a 11.51% rise in stock performance for the past week, with a -7.74% drop in the past month, and a -24.77% drop in the past quarter. The volatility ratio for the week is 5.53%, and the volatility levels for the past 30 days are at 5.31% for DKNG. The simple moving average for the past 20 days is -0.24% for DKNG’s stock, with a -13.25% simple moving average for the past 200 days.
Analysts’ Opinion of DKNG
Many brokerage firms have already submitted their reports for DKNG stocks, with Oppenheimer repeating the rating for DKNG by listing it as a “Outperform.” The predicted price for DKNG in the upcoming period, according to Oppenheimer is $58 based on the research report published on July 01, 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 $60, previously predicting the price at $58. The rating they have provided for DKNG stocks is “Buy” according to the report published on May 06th, 2024.
Goldman gave a rating of “Buy” to DKNG, setting the target price at $60 in the report published on April 16th of the current year.
DKNG Trading at -7.70% 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 -31.75% of loss for the given period.
Volatility was left at 5.31%, however, over the last 30 days, the volatility rate increased by 5.53%, as shares sank -8.29% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -7.61% lower at present.
During the last 5 trading sessions, DKNG rose by +11.63%, which changed the moving average for the period of 200-days by +25.82% in comparison to the 20-day moving average, which settled at $33.76. In addition, DraftKings Inc. saw -4.03% in overturn over a single year, with a tendency to cut further losses.
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 $30.72 back on Aug 08 ’24. After this action, Robins Jason now owns 2,699,815 shares of DraftKings Inc., valued at $6,144,000 using the latest closing price.
Robins Jason, the Officer of DraftKings Inc., proposed sale 200,000 shares at $30.46 during a trade that took place back on Aug 08 ’24, which means that Robins Jason is holding shares at $6,092,000 based on the most recent closing price.
Stock Fundamentals for DKNG
Current profitability levels for the company are sitting at:
- -0.11 for the present operating margin
- 0.39 for the gross margin
The net margin for DraftKings Inc. stands at -0.09. The total capital return value is set at -0.17. Equity return is now at value -35.09, with -10.39 for asset returns.
Based on DraftKings Inc. (DKNG), the company’s capital structure generated 0.49 points at debt to capital in total, while cash flow to debt ratio is standing at 0.14. The debt to equity ratio resting at 0.98. The interest coverage ratio of the stock is 43250.64.
Currently, EBITDA for the company is -549.75 million with net debt to EBITDA at -1.69. When we switch over and look at the enterprise to sales, we see a ratio of 3.94. The receivables turnover for the company is 14.22for trailing twelve months and the total asset turnover is 1.02. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.11.
Conclusion
To wrap up, the performance of DraftKings Inc. (DKNG) has been mixed in recent times. The stock has received a mixed of “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.
