Short Interest in fuboTV Inc. (NYSE:FUBO) Drops By 8.4%

fuboTV Inc. (NYSE:FUBO) was the recipient of a significant drop in short interest in June. As of June 15th, there was short interest totalling 52,060,000 shares, a drop of 8.4% from the May 31st total of 56,860,000 shares. Based on an average trading volume of 8,360,000 shares, the days-to-cover ratio is currently 6.2 days.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FUBO. Wedbush reiterated an “outperform” rating and set a $5.00 price target on shares of fuboTV in a report on Wednesday, May 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $2.90 target price on shares of fuboTV in a report on Wednesday, May 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $3.00 price target on shares of fuboTV in a report on Monday, May 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, fuboTV currently has an average rating of “Moderate Buy” and a consensus price target of $3.07.

fuboTV Stock Performance

fuboTV stock remained flat at $1.31 during mid-day trading on Wednesday. 4,519,819 shares of the company traded hands, compared to its average volume of 9,942,523. fuboTV has a one year low of $1.10 and a one year high of $3.87. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market cap of $392.84 million, a price-to-earnings ratio of -1.47 and a beta of 1.78. The company has a 50 day moving average of $1.28 and a 200 day moving average of $1.86.

fuboTV (NYSE:FUBO) last released its quarterly earnings data on Friday, May 3rd. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.05. The firm had revenue of $402.35 million during the quarter, compared to analyst estimates of $381.95 million. fuboTV had a negative return on equity of 72.13% and a negative net margin of 17.97%. As a group, equities research analysts forecast that fuboTV will post -0.63 earnings per share for the current year.

Institutional Investors Weigh In On fuboTV

A number of institutional investors have recently added to or reduced their stakes in the stock. PFG Investments LLC bought a new position in shares of fuboTV during the first quarter worth $27,000. Power Wealth Management LLC purchased a new stake in fuboTV in the 4th quarter worth $34,000. DekaBank Deutsche Girozentrale bought a new position in shares of fuboTV during the 4th quarter valued at about $36,000. Public Employees Retirement System of Ohio purchased a new position in shares of fuboTV during the first quarter valued at about $44,000. Finally, AJOVista LLC bought a new stake in shares of fuboTV in the fourth quarter worth about $84,000. 39.31% of the stock is owned by hedge funds and other institutional investors.

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.