DraftKings Inc (NASDAQ:DKNG) shares, rose in value on Wednesday, March 26, with the stock price down by -3.26% to the previous day’s close as strong demand from buyers drove the stock to $37.68.
Actively observing the price movement in the last trading, the stock closed the session at $38.95, falling within a range of $37.18 and $38.73. The value of beta (5-year monthly) was 2.069. Referring to stock’s 52-week performance, its high was $53.61, and the low was $28.69. On the whole, DKNG has fluctuated by -11.36% over the past month.
With the market capitalization of DraftKings Inc currently standing at about $33.27 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2025-Feb-12.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 6.46B, with a low estimate of 1.43B and a high estimate of 1.66B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.55B.
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 50% Sell on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the price of DKNG currently trading nearly -4.74% and -9.98% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.25, while the 7-day volatility ratio is showing 4.27% which for the 30-day chart, stands at 5.58%. Furthermore, DraftKings Inc (DKNG)’s beta value is 2.10, and its average true range (ATR) is 2.20.
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 -3.26% in last session, and over the past year, it shrunk by -20.17%%.
Data on historical trading for DraftKings Inc (NASDAQ:DKNG) indicates that the trading volumes over the past 10 days have averaged 9.02 and over the past 3 months, they’ve averaged 10.28 million. According to company’s latest data on outstanding shares, there are 489.07 million shares outstanding.
Nearly 4.02% of DraftKings Inc’s shares belong to company insiders and institutional investors own 80.60% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 23.73 million shares as on 2025-03-14, resulting in a short ratio of 1.61. According to the data, the short interest in DraftKings Inc (DKNG) stood at 497.00 of shares outstanding as of 2025-03-14; the number of short shares registered in 2025-02-14 reached 26.92 million. The stock has risen by 1.29% 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.
