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FuboTV (NYSE:FUBO) Sees Large Volume Increase - Should You Buy?


FuboTV (NYSE:FUBO) Sees Large Volume Increase  - Should You Buy?

FuboTV Inc. (NYSE:FUBO - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 8,561,208 shares changed hands during trading, a decline of 18% from the previous session's volume of 10,475,024 shares.The stock last traded at $1.64 and had previously closed at $1.74.

A number of brokerages have weighed in on FUBO. Seaport Res Ptn lowered shares of FuboTV from a "strong-buy" rating to a "hold" rating in a report on Monday, August 19th. Needham & Company LLC reissued a "buy" rating and set a $2.00 price target on shares of FuboTV in a research report on Monday, August 19th. Finally, Barrington Research restated a "market perform" rating on shares of FuboTV in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, FuboTV has a consensus rating of "Hold" and a consensus price target of $2.88.

View Our Latest Stock Analysis on FUBO

The firm has a fifty day moving average of $1.62 and a 200 day moving average of $1.44. The firm has a market capitalization of $513.80 million, a PE ratio of -1.94 and a beta of 1.79. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.60 and a current ratio of 0.60.

FuboTV (NYSE:FUBO - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.06. FuboTV had a negative net margin of 15.44% and a negative return on equity of 74.58%. The business had revenue of $389.22 million during the quarter, compared to the consensus estimate of $369.47 million. Equities research analysts expect that FuboTV Inc. will post -0.51 EPS for the current year.

In related news, Director Neil Glat purchased 25,000 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average cost of $1.42 per share, with a total value of $35,500.00. Following the completion of the acquisition, the director now directly owns 25,000 shares of the company's stock, valued at approximately $35,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 7.00% of the company's stock.

Hedge funds have recently made changes to their positions in the company. Marshall Wace LLP boosted its holdings in FuboTV by 114.1% in the second quarter. Marshall Wace LLP now owns 8,373,543 shares of the company's stock worth $10,383,000 after purchasing an additional 4,461,707 shares during the period. Millennium Management LLC grew its position in shares of FuboTV by 132.6% during the 2nd quarter. Millennium Management LLC now owns 4,810,529 shares of the company's stock valued at $5,965,000 after buying an additional 2,742,780 shares during the last quarter. Quadrature Capital Ltd raised its stake in FuboTV by 528.5% during the first quarter. Quadrature Capital Ltd now owns 1,195,163 shares of the company's stock worth $1,882,000 after acquiring an additional 1,005,002 shares during the period. Bank of New York Mellon Corp lifted its holdings in FuboTV by 13.6% in the second quarter. Bank of New York Mellon Corp now owns 1,072,236 shares of the company's stock worth $1,330,000 after acquiring an additional 127,978 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in FuboTV in the first quarter valued at approximately $618,000. Institutional investors and hedge funds own 39.31% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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