FuboTV (NYSE:FUBO) Shares Gap Down to $1.96

Shares of FuboTV Inc. (NYSE:FUBO) gapped down prior to trading on Tuesday . The stock had previously closed at $1.96, but opened at $1.90. FuboTV shares last traded at $1.88, with a volume of 1,981,236 shares.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FUBO shares. Seaport Res Ptn downgraded shares of FuboTV from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Wedbush restated an “outperform” rating and issued a $5.00 target price on shares of FuboTV in a research note on Wednesday, May 1st. Barrington Research reiterated a “market perform” rating on shares of FuboTV in a report on Tuesday, August 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $2.90 price objective on shares of FuboTV in a report on Wednesday, May 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $2.00 target price on shares of FuboTV in a report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2.88.

FuboTV Stock Performance

The business has a fifty day moving average price of $1.41 and a 200-day moving average price of $1.47. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $502.30 million, a P/E ratio of -1.88 and a beta of 1.78.

FuboTV (NYSE:FUBO) last issued its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.06. The company had revenue of $389.22 million during the quarter, compared to the consensus estimate of $369.47 million. FuboTV had a negative net margin of 17.97% and a negative return on equity of 72.13%. On average, sell-side analysts expect that FuboTV Inc. will post -0.63 EPS for the current year.

Insider Activity at FuboTV

In other FuboTV news, Director Neil Glat purchased 25,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was acquired at an average cost of $1.42 per share, for a total transaction of $35,500.00. Following the purchase, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $35,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.00% of the stock is owned by corporate insiders.

Institutional Trading of FuboTV

Hedge funds have recently bought and sold shares of the stock. PFG Investments LLC purchased a new stake in shares of FuboTV during the 1st quarter worth approximately $27,000. Power Wealth Management LLC purchased a new stake in FuboTV during the fourth quarter valued at $34,000. Algert Global LLC purchased a new stake in FuboTV during the second quarter valued at $37,000. Public Employees Retirement System of Ohio bought a new position in FuboTV during the first quarter valued at $44,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of FuboTV in the 2nd quarter worth $76,000. Hedge funds and other institutional investors own 39.31% of the company’s stock.

About FuboTV

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.