FuboTV (NYSE:FUBO) Shares Gap Down – Here’s Why

FuboTV Inc. (NYSE:FUBO) shares gapped down before the market opened on Friday . The stock had previously closed at $3.52, but opened at $2.96. FuboTV shares last traded at $2.77, with a volume of 20,843,591 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FUBO. Huber Research upgraded shares of FuboTV to a “strong-buy” rating in a research report on Friday, January 31st. Roth Mkm reissued a “neutral” rating and issued a $4.75 price target (up previously from $2.00) on shares of FuboTV in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $3.43.

FuboTV Stock Performance

The company has a market cap of $1.02 billion, a P/E ratio of -4.56 and a beta of 1.98. The company’s fifty day moving average is $3.50 and its 200 day moving average is $2.25. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Insider Activity

In related news, CFO John Janedis sold 25,823 shares of FuboTV stock in a transaction on Friday, February 21st. The shares were sold at an average price of $4.16, for a total value of $107,423.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David Gandler sold 1,425,888 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $5.01, for a total transaction of $7,143,698.88. Following the sale, the chief executive officer now owns 346,817 shares of the company’s stock, valued at $1,737,553.17. This represents a 80.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,861,426 shares of company stock valued at $9,721,411. Insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FUBO. United Advisor Group LLC purchased a new position in shares of FuboTV during the third quarter valued at approximately $26,000. Xponance Inc. increased its position in FuboTV by 19.1% during the 4th quarter. Xponance Inc. now owns 23,002 shares of the company’s stock valued at $29,000 after purchasing an additional 3,689 shares during the period. Raymond James Financial Inc. bought a new position in FuboTV in the 4th quarter worth $35,000. Balyasny Asset Management L.P. purchased a new stake in shares of FuboTV in the 4th quarter worth about $36,000. Finally, EWG Elevate Inc. boosted its stake in shares of FuboTV by 50.0% during the 4th quarter. EWG Elevate Inc. now owns 30,000 shares of the company’s stock valued at $38,000 after purchasing an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 39.31% of the company’s stock.

About FuboTV

fuboTV, Inc engages in providing subscription to sports, news, and entertainment content. It offers its services through streaming devices and on television, mobile phones, tablets, and computers. The company was founded by David Gandler, Alberto Horihuela Suarez, and Sung Ho Choi on February 20, 2009 and is headquartered in New York, NY.