FuboTV Inc. (NYSE:FUBO) Short Interest Down 9.2% in October

FuboTV Inc. (NYSE:FUBO) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 34,910,000 shares, a decline of 9.2% from the October 15th total of 38,440,000 shares. Based on an average daily trading volume, of 12,540,000 shares, the days-to-cover ratio is presently 2.8 days.

FuboTV Stock Performance

NYSE:FUBO remained flat at $1.43 during mid-day trading on Tuesday. 4,199,630 shares of the company’s stock traded hands, compared to its average volume of 10,525,273. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The business has a 50-day simple moving average of $1.55 and a 200 day simple moving average of $1.44. FuboTV has a 52-week low of $1.10 and a 52-week high of $3.82.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. United Advisor Group LLC purchased a new stake in FuboTV in the 3rd quarter valued at approximately $26,000. Hibernia Wealth Partners LLC purchased a new stake in shares of FuboTV in the third quarter valued at $27,000. Algert Global LLC purchased a new position in FuboTV in the 2nd quarter valued at about $37,000. Public Employees Retirement System of Ohio purchased a new stake in shares of FuboTV during the first quarter worth about $44,000. Finally, Apollon Wealth Management LLC raised its position in shares of FuboTV by 41.2% in the third quarter. Apollon Wealth Management LLC now owns 42,611 shares of the company’s stock valued at $61,000 after buying an additional 12,431 shares during the last quarter. 39.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FUBO. Seaport Res Ptn downgraded shares of FuboTV from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $2.00 price objective on shares of FuboTV in a report on Monday, August 19th. Finally, Barrington Research reissued a “market perform” rating on shares of FuboTV in a research note on Tuesday, August 20th. Four investment 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, the company has an average rating of “Hold” and an average price target of $2.88.

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.