FuboTV (NYSE:FUBO) Trading 6.2% Higher After Analyst Upgrade

FuboTV Inc. (NYSE:FUBO) shares rose 6.2% during mid-day trading on Tuesday after Needham & Company LLC raised their price target on the stock from $2.00 to $3.50. Needham & Company LLC currently has a buy rating on the stock. FuboTV traded as high as $2.98 and last traded at $3.02. Approximately 15,380,051 shares traded hands during trading, a decline of 73% from the average daily volume of 57,433,832 shares. The stock had previously closed at $2.84.

FUBO has been the subject of several other research reports. Wedbush reissued an “outperform” rating and issued a $6.40 price target on shares of FuboTV in a report on Friday. Huber Research upgraded FuboTV to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Roth Mkm reiterated 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 analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.01.

Insider Buying and Selling

In related news, CFO John Janedis sold 25,823 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $4.16, for a total transaction of $107,423.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Alberto Horihuela sold 403,847 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $6.03, for a total transaction of $2,435,197.41. Following the sale, the chief operating officer now directly owns 1,449,751 shares of the company’s stock, valued at $8,741,998.53. This represents a 21.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,861,426 shares of company stock worth $9,721,411. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. United Advisor Group LLC bought a new position in shares of FuboTV in the third quarter valued at $26,000. Apollon Wealth Management LLC increased its stake in FuboTV by 41.2% in the 3rd 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. Intech Investment Management LLC bought a new stake in FuboTV during the third quarter worth $152,000. Charles Schwab Investment Management Inc. grew its stake in FuboTV by 8.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,588,921 shares of the company’s stock valued at $3,676,000 after purchasing an additional 200,154 shares during the period. Finally, FMR LLC grew its position in FuboTV by 84.5% during the third quarter. FMR LLC now owns 101,914 shares of the company’s stock valued at $145,000 after buying an additional 46,670 shares during the period. 39.31% of the stock is owned by institutional investors.

FuboTV Trading Up 6.5 %

The stock has a market capitalization of $1.01 billion, a PE ratio of -4.51 and a beta of 1.99. The stock’s 50 day simple moving average is $3.56 and its two-hundred day simple moving average is $2.29. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.54 and a quick ratio of 0.54.

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.