DraftKings Inc. (NASDAQ:DKNG) concluded the trading on Wednesday, Oct 14 with a fall of -7.07% from its closing price on previous day.
Taking a look at stock we notice that its last check on previous day was $51.18 and 5Y monthly beta was reading 0 with its price kept floating in the range of $47.50 and $52.22 on the day. Company’s P/E ratio for the trailing 12 months is 864.73. Considering stock’s 52-week price range provides that DKNG hit a high price of $64.19 and saw its price falling to a low level of $9.85 during that period. Over a period of past 1-month, stock came losing -1.35% in its value.
In contrast, when we review DKNG stock’s current outlook then short term indicators are assigning it an average of 50% Buy, while medium term indicators are categorizing the stock at an average of 100% Buy. Long term indicators are suggesting an average of 100% Buy for it.
According to ratings assigned by 22 analysts at the scale of 1 to 5 with 1.00 representing a strong buy and 5.00 suggesting a strong sell; 8 of them are recommending DraftKings Inc. (DKNG) as a Hold, while 14 are in view that stock is a Buy. Recommendation by None analysts for the stock is an Outperform while number of those analysts who rated the stock as Underperform is none, whereas none of them are considering the stock as a Sell. When taken as whole, stock gets a rating of Overweight and that encourages the investors to exploit the opportunity and build their stake up in the company.
Digging deeper we become aware of the PEG ratio of the DKNG stock which is currently positioned at 21.62. It further provides that stock’s current price level is -12.6% away from its 20-day simple moving average and is 7.92% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 45.46 while volatility remained at 6.69% over the past week which changes to 7.39% when measuring it over the past month. Beta is valued at 0, while measure of average true range or ATR is currently at 4.22. In predicting price targets of as low as $37 and as high as $76, analysts are in agreement on assigning the stock over the next 12 months average price target of $58.63. Stock’s current price level is -22.2% above from estimated low price target while it is 59.8% below the estimated high; and even if the DKNG’s share succeeded to reach the median price of $60, then the outlook of +26.16% could come to the excitement of the investors.
Having a second look at DraftKings Inc. (NASDAQ:DKNG) provides that stock’s average daily trading volume for 3 months was 19.65 Million, while it jumped to 34.97 Million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock currently stood at 355.6 Million.
Data compiled by Thomson Reuters highlights that percentage of outstanding shares held by the insiders is 48.94% while it is 10.83% for the institutional holders. The figures also indicate that as of September 29, 2020, number of stock’s short shares was 20820000 which implies a short ratio of 0.79. This shows up a 5.85% of Short Interest in company’s outstanding shares on the day. In September the standing of shares short improved as it was 19.72 Million in the previous month. Addition of +344.49% by stock’s current price to its year-to-date value in today’s trading is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.