FuboTV (NYSE:FUBO) Shares Gap Up - Should You Buy?

Shares of FuboTV Inc. (NYSE:FUBO - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $5.06, but opened at $5.43. FuboTV shares last traded at $5.98, with a volume of 146,178,452 shares.

Wall Street Analyst Weigh In

Separately, Roth Mkm reaffirmed a "neutral" rating and set a $4.75 price target (up from $2.00) on shares of FuboTV in a report on Tuesday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, FuboTV has a consensus rating of "Hold" and an average target price of $3.43.

FuboTV Price Performance

The company has a 50 day moving average price of $1.58 and a 200-day moving average price of $1.52. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -8.13 and a beta of 1.78. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.50.

Insider Activity

In other news, COO Alberto Horihuela sold 47,478 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $1.47, for a total value of $69,792.66. Following the transaction, the chief operating officer now owns 1,471,325 shares in the company, valued at approximately $2,162,847.75. The trade was a 3.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John Janedis sold 74,326 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $1.47, for a total value of $109,259.22. Following the sale, the chief financial officer now owns 76,766 shares of the company's stock, valued at approximately $112,846.02. The trade was a 49.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.00% of the company's stock.

Hedge Funds Weigh In On FuboTV

Several institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in FuboTV by 13.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,072,236 shares of the company's stock valued at $1,330,000 after buying an additional 127,978 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of FuboTV by 145.1% during the second quarter. XTX Topco Ltd now owns 187,926 shares of the company's stock valued at $233,000 after acquiring an additional 111,268 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of FuboTV during the second quarter worth approximately $92,000. ProShare Advisors LLC lifted its holdings in shares of FuboTV by 71.3% in the 2nd quarter. ProShare Advisors LLC now owns 197,037 shares of the company's stock worth $244,000 after purchasing an additional 82,042 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of FuboTV by 114.1% in the 2nd quarter. Marshall Wace LLP now owns 8,373,543 shares of the company's stock worth $10,383,000 after purchasing an additional 4,461,707 shares in the last quarter. Institutional investors and hedge funds own 39.31% of the company's stock.

About FuboTV

fuboTV Inc operates a live TV streaming platform for live sports, news, and entertainment content in the United States and internationally. The company's platform allows customers to access content through streaming devices, as well as on SmartTVs, mobile phones, tablets, and computers. fuboTV Inc was incorporated in 2009 and is headquartered in New York, New York.