DraftKings Inc. (NASDAQ:DKNG) traded at $51.93 at last check on Wednesday, Sep 16, making an upward move of 7.72% on its previous day’s price.
Looking at the stock we see that its previous close was $48.21 and the beta (5Y monthly) reads 0 with the day’s price range being $49.50 – 53.00. The company has a 12-month trailing PE ratio of 876.55. In terms of its 52-week price range, DKNG has a high of $49.88 and a low of $9.84. The company’s stock has gained about 42.17% over that past 30 days.
On the other hand, looking at the outlook for the DKNG stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Based on estimates by 16 analysts where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 6 have rated the DraftKings Inc. (DKNG) stock as a Hold, while 10 rate it as a Buy. None analysts rate it as outperform while none of them rated it as underperform, whereas none suggests the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.
Looking further, we note that the PEG ratio for the DKNG stock currently stands at 21.91, and the current price level is 33.2% off its SMA20 and 44.37% from its 50-day simple moving average. The RSI (14) is pointing at 74.12 while the volatility over the past week is 1142% and drops to 8.79% over the past one month. The beta value is 0, while the average true range (ATR) is currently pointing at 3.45. The average price target for the stock over the next 12 months is $48.43, with the estimates having a low of $35 and a high of $60. These price ends are -32.6% and +15.54% off the current price level respectively, although investors could be excited at the prospect of a -3.72% if the DKNG share price touches on the median price of $50.
Coming back to DraftKings Inc. (NASDAQ:DKNG), we note that the average 3-month trading volume was 15Million, while that of the preceding 10-day period stands at 26.04 Million. Current shares outstanding are 355.6 Million.
According to data from Thomson Reuters, insiders hold 48.94% of the company’s shares while institutions hold 10.83%. The data shows that short shares as of August 30, 2020, stood at 21.94 Million at a short ratio of 1.7. This represents a 2.63% Short interest in Shares outstanding on August 30, 2020. Shares short rose in August from the previous month at 21.53 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock +350.56% up in year-to-date price movement.