FuboTV (NYSE:FUBO) Sees Unusually-High Trading Volume - Here's Why

FuboTV Inc. (NYSE:FUBO - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 8,561,208 shares were traded during mid-day trading, a decline of 18% from the previous session's volume of 10,475,024 shares.The stock last traded at $1.64 and had previously closed at $1.74.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Needham & Company LLC reissued a "buy" rating and set a $2.00 price target on shares of FuboTV in a research report on Monday, August 19th. Seaport Res Ptn downgraded FuboTV from a "strong-buy" rating to a "hold" rating in a report on Monday, August 19th. Finally, Barrington Research reiterated a "market perform" rating on shares of FuboTV in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and three have assigned 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 Trading Down 12.9 %

The stock has a market cap of $498.95 million, a price-to-earnings ratio of -1.94 and a beta of 1.79. The business has a 50 day simple moving average of $1.62 and a two-hundred day simple moving average of $1.44. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.39.

FuboTV (NYSE:FUBO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.06. The firm had revenue of $389.22 million for 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, equities analysts anticipate that FuboTV Inc. will post -0.51 EPS for the current year.

Insider Buying and Selling

In related news, Director Neil Glat bought 25,000 shares of the firm's stock in a transaction on Friday, August 16th. The stock was bought at an average cost of $1.42 per share, for a total transaction of $35,500.00. Following the completion of the purchase, the director now directly owns 25,000 shares in the company, valued at approximately $35,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On FuboTV

Hedge funds have recently added to or reduced their stakes in the stock. United Advisor Group LLC bought a new position in shares of FuboTV during the third quarter worth about $26,000. Hibernia Wealth Partners LLC acquired a new stake in shares of FuboTV in the third quarter valued at approximately $27,000. Public Employees Retirement System of Ohio acquired a new stake in shares of FuboTV in the first quarter valued at approximately $44,000. Algert Global LLC bought a new stake in shares of FuboTV during the second quarter valued at approximately $37,000. Finally, Precision Wealth Strategies LLC bought a new stake in shares of FuboTV during the first quarter valued at approximately $93,000. 39.31% of the stock is currently owned by institutional investors.

FuboTV Company Profile

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.