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

FuboTV Inc. (NYSE:FUBO) was the recipient of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 39,230,000 shares, a growth of 8.4% from the November 15th total of 36,190,000 shares. Based on an average daily volume of 10,070,000 shares, the days-to-cover ratio is currently 3.9 days.

Analysts Set New Price Targets

Several research firms recently issued reports on FUBO. Seaport Res Ptn downgraded FuboTV from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Needham & Company LLC restated a “buy” rating and issued a $2.00 price target on shares of FuboTV in a research note on Monday, August 19th. Finally, Barrington Research restated 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 given a buy rating to the company’s stock. Based on data from MarketBeat, FuboTV has an average rating of “Hold” and a consensus target price of $2.88.

FuboTV Price Performance

Shares of NYSE:FUBO remained flat at $1.47 during trading on Tuesday. The stock had a trading volume of 10,625,363 shares, compared to its average volume of 10,732,604. The business’s 50 day moving average price is $1.57 and its 200 day moving average price is $1.48. The company has a market capitalization of $491.12 million, a price-to-earnings ratio of -2.22 and a beta of 1.74. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.54 and a quick ratio of 0.54. FuboTV has a 1 year low of $1.10 and a 1 year high of $3.55.

Insiders Place Their Bets

In other news, CFO John Janedis sold 74,326 shares of FuboTV stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $1.47, for a total transaction of $109,259.22. Following the completion of the transaction, the chief financial officer now directly owns 76,766 shares in the company, valued at approximately $112,846.02. The trade was a 49.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Alberto Horihuela sold 47,478 shares of FuboTV stock in a transaction that occurred on Thursday, November 21st. The stock was 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 of the company’s stock, valued at $2,162,847.75. This represents a 3.13 % 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

A number of institutional investors have recently modified their holdings of FUBO. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 buying an additional 9,229 shares in the last quarter. Bank of New York Mellon Corp increased its holdings 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 worth $1,330,000 after purchasing an additional 127,978 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in FuboTV in the 2nd quarter worth about $76,000. XTX Topco Ltd increased its holdings in FuboTV by 145.1% in the 2nd quarter. XTX Topco Ltd now owns 187,926 shares of the company’s stock worth $233,000 after purchasing an additional 111,268 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in FuboTV in the 2nd quarter worth about $92,000. Institutional investors and hedge funds own 39.31% of the company’s stock.

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.