fuboTV Inc. (NYSE:FUBO) Sees Significant Increase in Short Interest

fuboTV Inc. (NYSE:FUBO) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totaling 7,137,761 shares, an increase of 19.7% from the March 31st total of 5,961,556 shares. Currently, 94.6% of the shares of the company are short sold. Based on an average daily volume of 2,927,958 shares, the short-interest ratio is presently 2.4 days.

Analyst Ratings Changes

FUBO has been the subject of several research reports. Wall Street Zen raised fuboTV from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Needham & Company LLC dropped their price objective on fuboTV from $36.00 to $15.00 and set a “buy” rating for the company in a report on Friday, March 27th. B. Riley Financial initiated coverage on fuboTV in a report on Friday, March 27th. They issued a “buy” rating and a $18.00 price objective for the company. Wedbush lifted their price objective on fuboTV to $24.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. Finally, Citizens Jmp initiated coverage on fuboTV in a report on Monday, March 30th. They issued a “market outperform” rating and a $13.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, fuboTV currently has an average rating of “Moderate Buy” and a consensus target price of $17.33.

fuboTV Price Performance

NYSE FUBO traded up $1.46 during midday trading on Friday, hitting $13.78. The company had a trading volume of 2,099,847 shares, compared to its average volume of 2,137,737. The company has a market capitalization of $404.72 million, a PE ratio of 2.55 and a beta of 2.50. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average price of $12.72 and a 200-day moving average price of $26.60. fuboTV has a twelve month low of $8.31 and a twelve month high of $56.64.

Hedge Funds Weigh In On fuboTV

Several hedge funds and other institutional investors have recently modified their holdings of the business. Federated Hermes Inc. increased its stake in shares of fuboTV by 177.4% in the 3rd quarter. Federated Hermes Inc. now owns 6,900 shares of the company’s stock valued at $29,000 after purchasing an additional 4,413 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of fuboTV by 47.7% in the 4th quarter. Farther Finance Advisors LLC now owns 15,045 shares of the company’s stock valued at $38,000 after purchasing an additional 4,859 shares during the last quarter. Kestra Private Wealth Services LLC increased its stake in shares of fuboTV by 13.2% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 42,757 shares of the company’s stock valued at $177,000 after purchasing an additional 5,000 shares during the last quarter. USAdvisors Wealth Management LLC increased its stake in shares of fuboTV by 4.3% in the 4th quarter. USAdvisors Wealth Management LLC now owns 150,731 shares of the company’s stock valued at $379,000 after purchasing an additional 6,200 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of fuboTV by 4.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 171,039 shares of the company’s stock valued at $660,000 after purchasing an additional 6,857 shares during the last quarter. Institutional investors own 39.31% of the company’s stock.

About fuboTV

fuboTV Inc is a sports-focused live TV streaming platform that provides subscribers with access to a broad range of televised sports, news and entertainment programming. The service offers tiered channel packages featuring major networks such as ESPN, Fox Sports, NBC and regional sports networks, along with bundled options for premium channels and international programming. A core element of fuboTV’s proposition is its cloud DVR functionality, which enables users to record live events and store them for later viewing.

In addition to its live television offerings, fuboTV has developed an in-house ad-supported streaming network—fubo Sports Network—that delivers original sports news, analysis and highlights.