DraftKings Inc (NASDAQ:DKNG) shares, rose in value, with the stock price up by 10.80% to the previous day’s close as strong demand from buyers drove the stock to $51.47.
Actively observing the price movement in the recent trading, the stock is buoying the session at $46.45, falling within a range of $48.04 and $51.89. The value of beta (5-year monthly) is 1.819. Referring to stock’s 52-week performance, its high was $49.57, and the low was $28.69. On the whole, DKNG has fluctuated by 32.92% over the past month.
With the market capitalization of DraftKings Inc currently standing at about $45.32 billion, investors are eagerly awaiting this quarter’s results, scheduled for in March.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that DKNG’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of DKNG currently trading nearly 20.52% and 25.56% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 83.66, while the 7-day volatility ratio is showing 4.16% which for the 30-day chart, stands at 3.77%. Furthermore, DraftKings Inc (DKNG)’s beta value is 2.08, and its average true range (ATR) is 1.83.
A comparison of DraftKings Inc (DKNG) with its peers suggests the former has fared considerably weaker in the market. DKNG showed an intraday change of 10.80% in today’s session so far, and over the past year, it grew by 20.56%%.
Data on historical trading for DraftKings Inc (NASDAQ:DKNG) indicates that the trading volumes over the past 10 days have averaged 8.83 and over the past 3 months, they’ve averaged 7.85 million. According to company’s latest data on outstanding shares, there are 487.17 million shares outstanding.
Nearly 3.62% of DraftKings Inc’s shares belong to company insiders and institutional investors own 78.07% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 22.14 million shares as on 2025-01-31, resulting in a short ratio of 2.95. According to the data, the short interest in DraftKings Inc (DKNG) stood at 466.00 of shares outstanding as of 2025-01-31; the number of short shares registered in 2024-12-31 reached 22.62 million. The stock has risen by 38.35% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the DKNG stock heading into the next quarter.
