Stifel Nicolaus began coverage on shares of DraftKings (NASDAQ:DKNG – Get Rating) in a research note issued to investors on Monday morning, The Fly reports. The firm issued a hold rating on the stock.
Several other equities analysts have also recently issued reports on DKNG. Cowen dropped their price target on DraftKings from $50.00 to $35.00 and set an outperform rating on the stock in a research report on Wednesday, November 2nd. Truist Financial dropped their price target on DraftKings from $20.00 to $15.00 and set a hold rating on the stock in a research report on Tuesday, October 25th. Roth Capital cut DraftKings from a buy rating to a neutral rating and set a $15.00 price target on the stock. in a research report on Monday, December 12th. Redburn Partners initiated coverage on DraftKings in a research report on Wednesday, October 12th. They issued a neutral rating and a $19.00 price target on the stock. Finally, JPMorgan Chase & Co. cut DraftKings from a neutral rating to an underweight rating and set a $12.00 price target on the stock. in a research report on Monday, November 28th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, DraftKings currently has an average rating of Hold and an average target price of $21.96.
DraftKings Stock Performance
DKNG opened at $14.56 on Monday. The business’s 50-day simple moving average is $13.40 and its 200-day simple moving average is $14.73. DraftKings has a one year low of $9.77 and a one year high of $25.01. The stock has a market capitalization of $12.26 billion, a P/E ratio of -4.23 and a beta of 1.81.
Institutional Trading of DraftKings
Large investors have recently bought and sold shares of the company. Quent Capital LLC grew its holdings in DraftKings by 136.9% in the second quarter. Quent Capital LLC now owns 2,132 shares of the company’s stock valued at $25,000 after purchasing an additional 1,232 shares during the last quarter. Allworth Financial LP lifted its position in shares of DraftKings by 136.0% in the third quarter. Allworth Financial LP now owns 1,631 shares of the company’s stock valued at $25,000 after acquiring an additional 940 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new stake in shares of DraftKings in the fourth quarter valued at $25,000. SJS Investment Consulting Inc. purchased a new stake in shares of DraftKings in the third quarter valued at $26,000. Finally, Ellevest Inc. lifted its position in shares of DraftKings by 1,005.5% in the third quarter. Ellevest Inc. now owns 2,012 shares of the company’s stock valued at $30,000 after acquiring an additional 1,830 shares in the last quarter. Institutional investors and hedge funds own 30.60% of the company’s stock.
DraftKings Company Profile
DraftKings Inc operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.
- Get a free copy of the StockNews.com research report on DraftKings (DKNG)
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