fuboTV Inc. (NYSE:FUBO) Sees Large Drop in Short Interest

fuboTV Inc. (NYSE:FUBOGet Free Report) was the target of a large decline in short interest in May. As of May 31st, there was short interest totalling 56,860,000 shares, a decline of 7.2% from the May 15th total of 61,250,000 shares. Based on an average daily volume of 8,500,000 shares, the days-to-cover ratio is currently 6.7 days.

Institutional Trading of fuboTV

Several institutional investors have recently modified their holdings of the company. Pathstone Family Office LLC grew its stake in shares of fuboTV by 41.9% in the 3rd quarter. Pathstone Family Office LLC now owns 14,185 shares of the company’s stock valued at $38,000 after purchasing an additional 4,185 shares during the period. Amalgamated Bank grew its stake in fuboTV by 23.6% during the third quarter. Amalgamated Bank now owns 23,497 shares of the company’s stock worth $63,000 after buying an additional 4,489 shares during the last quarter. Jump Financial LLC increased its holdings in shares of fuboTV by 28.3% during the third quarter. Jump Financial LLC now owns 25,925 shares of the company’s stock worth $69,000 after buying an additional 5,716 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of fuboTV by 22.8% in the fourth quarter. Victory Capital Management Inc. now owns 37,908 shares of the company’s stock valued at $121,000 after acquiring an additional 7,040 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its holdings in shares of fuboTV by 20.5% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 42,577 shares of the company’s stock worth $114,000 after acquiring an additional 7,231 shares in the last quarter. Institutional investors and hedge funds own 39.31% of the company’s stock.

fuboTV Stock Performance

fuboTV stock traded down $0.01 on Wednesday, reaching $1.18. 7,179,243 shares of the stock were exchanged, compared to its average volume of 7,234,379. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.61. fuboTV has a twelve month low of $1.13 and a twelve month high of $3.87. The firm has a fifty day moving average price of $1.32 and a two-hundred day moving average price of $2.01.

fuboTV (NYSE:FUBOGet Free Report) last issued its quarterly earnings results on Friday, May 3rd. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.05. fuboTV had a negative return on equity of 72.13% and a negative net margin of 17.97%. The company had revenue of $402.35 million for the quarter, compared to the consensus estimate of $381.95 million. As a group, analysts expect that fuboTV will post -0.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

FUBO has been the subject of several recent analyst reports. Evercore ISI decreased their target price on shares of fuboTV from $3.00 to $2.50 and set an “in-line” rating for the company in a report on Monday, March 4th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of fuboTV in a research note on Wednesday, May 1st. Needham & Company LLC reissued a “buy” rating and set a $3.00 target price on shares of fuboTV in a research note on Monday, May 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $2.90 target price on shares of fuboTV in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, fuboTV has a consensus rating of “Moderate Buy” and a consensus price target of $3.07.

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About fuboTV

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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.

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