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DraftKings Inc. (DKNG) – Don’t Believe the Hype: Check The Facts

DraftKings Inc. (NASDAQ: DKNG) is -43.28% lower on its value in year-to-date trading and has touched a low of $9.77 and a high of $53.85 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The DKNG stock was last observed hovering at around $16.72 in the last trading session, with the day’s loss setting it -1.14% off its average median price target of $25.00 for the next 12 months. It is also 70.04% off the consensus price target high of $52.00 offered by 29 analysts, but current levels are 2.62% higher than the price target low of $16.00 for the same period.

Currently trading at $15.58, the stock is -9.18% and -5.48% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 16.13 million and changing -6.82% at the moment leaves the stock -14.71% off its SMA200. DKNG registered -70.40% loss for a year compared to 6-month loss of -17.61%.

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The stock witnessed a -8.68% gain in the last 1 month and extending the period to 3 months gives it a 19.11%, and is -18.94% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.70% over the week and 5.89% over the month.

DraftKings Inc. (DKNG) has around 3400 employees, a market worth around $7.22B and $1.57B in sales. Profit margin for the company is -99.10%. Distance from 52-week low is 59.47% and -71.07% from its 52-week high. The company has generated returns on investments over the last 12 months (-53.60%).

DraftKings Inc. (DKNG) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for DraftKings Inc. (DKNG) is a “Overweight”. 29 analysts offering their recommendations for the stock have an average rating of 2.30, where 12 rate it as a Hold and 2 think it is a “Overweight”. 15 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

DraftKings Inc. is expected to release its quarterly report on 11/04/2022.The EPS is expected to grow by 6.10% this year

DraftKings Inc. (DKNG) Top Institutional Holders

The shares outstanding are 437.03M, and float is at 415.79M with Short Float at 9.95%.

DraftKings Inc. (DKNG) Insider Activity

A total of 163 insider transactions have happened at DraftKings Inc. (DKNG) in the last six months, with sales accounting for 70 and purchases happening 93 times. The most recent transaction is an insider sale by Robins Jason, the company’s. SEC filings show that Robins Jason sold 320,356 shares of the company’s common stock on Mar 16 at a price of $17.38 per share for a total of $5.57 million. Following the sale, the insider now owns 4.25 million shares.

DraftKings Inc. disclosed in a document filed with the SEC on Mar 15 that Robins Jason () sold a total of 338,027 shares of the company’s common stock. The trade occurred on Mar 15 and was made at $15.58 per share for $5.27 million. Following the transaction, the insider now directly holds 4.57 million shares of the DKNG stock.

Still, SEC filings show that on Mar 14, SLOAN HARRY (Director) acquired 50,000 shares at an average price of $15.39 for $0.77 million. The insider now directly holds 153,035 shares of DraftKings Inc. (DKNG).

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