DraftKings Inc.’s recent filing unveils that its insider Robins Jason unloaded Company’s shares for reported $8.18 million on Feb 21 ’24. In the deal valued at $40.89 per share,200,000 shares were sold. As a result of this transaction, Robins Jason now holds 3,195,812 shares worth roughly $150.84 million.
Then, Dodge R Stanton sold 686,101 shares, generating $29,543,509 in total proceeds. Upon selling the shares at $43.06, the Chief Legal Officer now owns 200,239 shares.
Before that, Robins Jason sold 450,000 shares. DraftKings Inc. shares valued at $19,377,000 were divested by the insider at a price of $43.06 per share. As a result of the transaction, Robins Jason now holds 3,373,637 shares, worth roughly $159.24 million.
Needham reiterated its DraftKings Inc. [DKNG] rating to a Buy in a research note published on March 27, 2024; the price target was $58. A number of analysts have revised their coverage, including Mizuho’s analysts, who began to cover the stock in late March with a ‘”a Buy”‘ rating. Susquehanna also remained covering DKNG and reiterated its “Positive” recommendation on March 25, 2024. Morgan Stanley maintained its rating on February 28, 2024. It rated DKNG as “an Overweight”.
Price Performance Review of DKNG
On Friday, DraftKings Inc. [NASDAQ:DKNG] saw its stock jump 4.03% to $47.20. Over the last five days, the stock has gained 3.94%. DraftKings Inc. shares have risen nearly 33.90% since the year began. Nevertheless, the stocks have risen 147.38% over the past one year. While a 52-week high of $49.57 was reached on 03/27/24, a 52-week low of $17.42 was recorded on 01/04/24. SMA at 50 days reached $43.03, while 200 days put it at $34.42. A total of 12.97 million shares were traded, compared to the trading of 8.26 million shares in the previous session.
Levels Of Support And Resistance For DKNG Stock
The 24-hour chart illustrates a support level at 45.72, which if violated will result in even more drops to 44.24. On the upside, there is a resistance level at 48.01. A further resistance level may holdings at 48.82. The Relative Strength Index (RSI) on the 14-day chart is 61.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 30.74%. Stochastics %K at 52.59% indicates the stock is a holding.
How much short interest is there in DraftKings Inc.?
A steep rise in short interest was recorded in DraftKings Inc. stocks on Mar 15, 2024, dropping by -2.21 million shares to a total of 17.48 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 19.69 million shares. There was a decline of -12.64%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.77% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.47.
