FuboTV (NYSE:FUBO) Trading 7.4% Higher - Here's What Happened

FuboTV Inc. (NYSE:FUBO - Get Free Report)'s share price shot up 7.4% on Monday . The stock traded as high as $1.68 and last traded at $1.68. 2,538,829 shares were traded during mid-day trading, a decline of 76% from the average session volume of 10,429,341 shares. The stock had previously closed at $1.56.

Wall Street Analyst Weigh In

A number of research firms have commented on FUBO. Needham & Company LLC restated a "buy" rating and issued a $2.00 target price on shares of FuboTV in a research report on Monday, August 19th. Barrington Research restated a "market perform" rating on shares of FuboTV in a report on Tuesday, August 20th. Finally, Seaport Res Ptn lowered shares of FuboTV from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 19th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $2.88.

FuboTV Price Performance

The company has a debt-to-equity ratio of 1.39, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market capitalization of $538.28 million, a price-to-earnings ratio of -2.02 and a beta of 1.79. The stock has a 50 day moving average price of $1.63 and a two-hundred day moving average price of $1.43.

FuboTV (NYSE:FUBO - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.06. The company had revenue of $389.22 million during the quarter, compared to analysts' expectations of $369.47 million. FuboTV had a negative return on equity of 74.58% and a negative net margin of 15.44%. As a group, analysts expect that FuboTV Inc. will post -0.51 EPS for the current year.

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Insider Transactions at FuboTV

In related news, Director Neil Glat bought 25,000 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average cost of $1.42 per share, for a total transaction of $35,500.00. Following the completion of the acquisition, the director now owns 25,000 shares in the company, valued at approximately $35,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.00% of the company's stock.

Institutional Trading of FuboTV

Several hedge funds have recently added to or reduced their stakes in FUBO. Price T Rowe Associates Inc. MD grew its holdings in FuboTV by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 183,815 shares of the company's stock worth $291,000 after acquiring an additional 9,229 shares in the last quarter. Arkadios Wealth Advisors grew its stake in shares of FuboTV by 19.5% during the third quarter. Arkadios Wealth Advisors now owns 73,677 shares of the company's stock worth $105,000 after purchasing an additional 12,000 shares in the last quarter. Hibernia Wealth Partners LLC acquired a new position in shares of FuboTV during the third quarter worth $27,000. Public Employees Retirement System of Ohio purchased a new position in FuboTV in the first quarter valued at $44,000. Finally, Algert Global LLC acquired a new stake in FuboTV in the second quarter valued at $37,000. 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.