FuboTV (NYSE:FUBO) Trading 5% Higher - Here's Why

FuboTV Inc. (NYSE:FUBO - Get Free Report) shares rose 5% on Tuesday . The company traded as high as $2.98 and last traded at $3.03. Approximately 1,625,958 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 18,955,318 shares. The stock had previously closed at $2.88.

Analysts Set New Price Targets

Several research firms have recently issued reports on FUBO. Needham & Company LLC lifted their price objective on shares of FuboTV from $2.00 to $3.50 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Huber Research upgraded FuboTV to a "strong-buy" rating in a report on Friday, January 31st. UBS Group set a $3.50 price objective on shares of FuboTV in a research report on Monday, March 3rd. Roth Mkm reaffirmed a "neutral" rating and issued a $4.75 target price (up from $2.00) on shares of FuboTV in a research report on Tuesday, January 7th. Finally, Wedbush reissued an "outperform" rating and issued a $6.40 target price on shares of FuboTV in a report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $4.21.

FuboTV Trading Up 3.3 %

The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.54. The business's 50-day moving average is $3.20 and its two-hundred day moving average is $2.60. The stock has a market capitalization of $1.01 billion, a PE ratio of -4.43 and a beta of 2.22.

Insider Buying and Selling at FuboTV

In other news, CFO John Janedis sold 25,823 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $4.16, for a total value of $107,423.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FUBO. Vanguard Group Inc. grew its stake in FuboTV by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 18,676,396 shares of the company's stock valued at $23,532,000 after acquiring an additional 1,377,663 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of FuboTV by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 7,467,867 shares of the company's stock worth $9,412,000 after purchasing an additional 365,827 shares during the last quarter. State Street Corp grew its holdings in FuboTV by 1.9% in the 3rd quarter. State Street Corp now owns 6,934,875 shares of the company's stock valued at $9,848,000 after buying an additional 132,167 shares during the period. Renaissance Technologies LLC increased its position in FuboTV by 45.1% during the fourth quarter. Renaissance Technologies LLC now owns 4,324,700 shares of the company's stock worth $5,449,000 after purchasing an additional 1,344,956 shares during the last quarter. Finally, Northern Trust Corp raised its stake in FuboTV by 16.9% during the fourth quarter. Northern Trust Corp now owns 2,999,809 shares of the company's stock worth $3,780,000 after purchasing an additional 434,406 shares during the period. 39.31% of the stock is owned by hedge funds and other institutional investors.

About FuboTV

fuboTV, Inc engages in providing subscription to sports, news, and entertainment content. It offers its services through streaming devices and on television, mobile phones, tablets, and computers. The company was founded by David Gandler, Alberto Horihuela Suarez, and Sung Ho Choi on February 20, 2009 and is headquartered in New York, NY.