In the past week, DKNG stock has gone up by 2.75%, with a monthly gain of 17.50% and a quarterly surge of 5.74%. The volatility ratio for the week is 3.87%, and the volatility levels for the last 30 days are 4.06% for DraftKings Inc. The simple moving average for the past 20 days is 7.72% for DKNG’s stock, with a 3.08% simple moving average for the past 200 days.
Is It Worth Investing in DraftKings Inc. (NASDAQ: DKNG) Right Now?
The 36-month beta value for DKNG is at 1.80. Analysts have varying views on the stock, with 22 analysts rating it as a “buy,” 9 rating it as “overweight,” 6 as “hold,” and 1 as “sell.”
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The public float for DKNG is 467.00M, and currently, shorts hold a 5.52% of that float. The average trading volume for DKNG on September 30, 2024 was 9.16M shares.
DKNG) stock’s latest price update
The stock price of DraftKings Inc. (NASDAQ: DKNG) has dropped by -1.42 compared to previous close of 40.94. Despite this, the company has seen a gain of 2.75% in its stock price over the last five trading days. zacks.com reported 2024-09-27 that DraftKings (DKNG) closed the most recent trading day at $40.36, moving -1.42% from the previous trading session.
Analysts’ Opinion of DKNG
Many brokerage firms have already submitted their reports for DKNG stocks, with Exane BNP Paribas repeating the rating for DKNG by listing it as a “Neutral.” The predicted price for DKNG in the upcoming period, according to Exane BNP Paribas is $35 based on the research report published on September 10, 2024 of the current year 2024.
UBS, 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 $56. The rating they have provided for DKNG stocks is “Buy” according to the report published on September 04th, 2024.
Susquehanna gave a rating of “Positive” to DKNG, setting the target price at $48 in the report published on September 04th of the current year.
DKNG Trading at 13.38% 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 -18.58% of loss for the given period.
Volatility was left at 4.06%, however, over the last 30 days, the volatility rate increased by 3.87%, as shares surge +19.09% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +10.06% upper at present.
During the last 5 trading sessions, DKNG rose by +2.75%, which changed the moving average for the period of 200-days by +10.61% in comparison to the 20-day moving average, which settled at $37.79. In addition, DraftKings Inc. saw 14.50% 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 Liberman Paul, who sale 643,654 shares at the price of $41.24 back on Sep 25 ’24. After this action, Liberman Paul now owns 137,308 shares of DraftKings Inc., valued at $26,545,315 using the latest closing price.
Liberman Paul, the Officer of DraftKings Inc., proposed sale 643,654 shares at $41.01 during a trade that took place back on Sep 25 ’24, which means that Liberman Paul is holding shares at $26,396,251 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 -353.72.
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 4.68. 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
In conclusion, DraftKings Inc. (DKNG) has had a better performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
