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DraftKings Inc. (DKNG) Volatility At 6.44%, Should You Add A Position?

DraftKings Inc. (NASDAQ: DKNG) is 62.51% higher on its value in year-to-date trading and has touched a low of $9.77 and a high of $21.62 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The DKNG stock was last observed hovering at around $17.99 in the last trading session, with the day’s gains setting it 0.52% off its average median price target of $25.00 for the next 12 months. It is also 51.29% off the consensus price target high of $38.00 offered by 32 analysts, but current levels are -42.38% lower than the price target low of $13.00 for the same period.

Currently trading at $18.51, the stock is -1.58% and 13.73% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 8.64 million and changing 2.89% at the moment leaves the stock 23.26% off its SMA200. DKNG registered 14.76% gain for a year compared to 6-month loss of 0.60%.

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The stock witnessed a 11.51% gain in the last 1 month and extending the period to 3 months gives it a 34.42%, and is -1.23% 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 6.44% over the week and 5.83% over the month.

DraftKings Inc. (DKNG) has around 4200 employees, a market worth around $8.45B and $2.24B in sales. Profit margin for the company is -61.50%. Distance from 52-week low is 89.46% and -14.38% from its 52-week high. The company has generated returns on investments over the last 12 months (-56.10%).

DraftKings Inc. (DKNG) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for DraftKings Inc. (DKNG) is a “Overweight”. 32 analysts offering their recommendations for the stock have an average rating of 2.30, where 10 rate it as a Hold and 1 think it is a “Overweight”. 18 of the analysts rate the stock as a “Buy”. 3 analysts have rated the stock as a Sell or Underperform.

DraftKings Inc. is expected to release its quarterly report on 05/05/2023.The EPS is expected to grow by 16.60% this year

DraftKings Inc. (DKNG) Top Institutional Holders

The shares outstanding are 449.22M, and float is at 434.29M with Short Float at 8.05%.

DraftKings Inc. (DKNG) Insider Activity

A total of 92 insider transactions have happened at DraftKings Inc. (DKNG) in the last six months, with sales accounting for 37 and purchases happening 55 times. The most recent transaction is an insider sale by Robins Jason, the company’s. SEC filings show that Robins Jason sold 294,597 shares of the company’s common stock on Mar 15 at a price of $17.43 per share for a total of $5.13 million. Following the sale, the insider now owns 6.45 million shares.

DraftKings Inc. disclosed in a document filed with the SEC on Mar 14 that Robins Jason () sold a total of 280,704 shares of the company’s common stock. The trade occurred on Mar 14 and was made at $18.44 per share for $5.18 million. Following the transaction, the insider now directly holds 6.75 million shares of the DKNG stock.

Still, SEC filings show that on Mar 08, Kalish Matthew () disposed off 281,616 shares at an average price of $19.14 for $5.39 million. The insider now directly holds 3,390,298 shares of DraftKings Inc. (DKNG).

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