fuboTV (NYSE:FUBO) Shares Gap Up - What's Next?

Key Points

• fuboTV shares opened at $3.81, up from a previous close of $3.53, and last traded at $4.01 with significant trading volume of 16,417,352 shares.
• Analyst ratings are mixed, with a "Moderate Buy" consensus; Needham & Company lowered its price target to $3.00, while Wedbush upgraded it to a "strong-buy" rating.
• Institutional investors own 39.31% of fuboTV, with notable increases in stakes by firms like Principal Financial Group, which raised its stake by 23.3% this year.

fuboTV Inc. (NYSE:FUBO - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $3.53, but opened at $3.81. fuboTV shares last traded at $4.01, with a volume of 16,417,352 shares.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FUBO. Needham & Company LLC dropped their price target on fuboTV from $3.35 to $3.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Wedbush upgraded fuboTV to a "strong-buy" rating in a research report on Tuesday, July 1st. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $4.06.

fuboTV Stock Up 5.5%

The stock has a 50-day moving average of $3.44 and a two-hundred day moving average of $3.36. The company has a market cap of $1.27 billion, a P/E ratio of 18.63 and a beta of 2.22. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.70 and a current ratio of 0.70.

Institutional Trading of fuboTV

Hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its stake in fuboTV by 2.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 109,816 shares of the company's stock worth $138,000 after purchasing an additional 2,668 shares during the period. USAdvisors Wealth Management LLC increased its stake in fuboTV by 2.7% in the 2nd quarter. USAdvisors Wealth Management LLC now owns 114,031 shares of the company's stock worth $439,000 after purchasing an additional 3,000 shares during the period. Corebridge Financial Inc. increased its stake in fuboTV by 2.1% in the 4th quarter. Corebridge Financial Inc. now owns 160,328 shares of the company's stock worth $202,000 after purchasing an additional 3,321 shares during the period. Principal Financial Group Inc. increased its stake in fuboTV by 23.3% in the 1st quarter. Principal Financial Group Inc. now owns 22,468 shares of the company's stock worth $66,000 after purchasing an additional 4,239 shares during the period. Finally, MetLife Investment Management LLC increased its stake in fuboTV by 3.0% in the 1st quarter. MetLife Investment Management LLC now owns 207,550 shares of the company's stock worth $606,000 after purchasing an additional 6,038 shares during the period. 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.

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