fuboTV (NYSE:FUBO) Stock Price Down 4.8% - Here's Why

fuboTV Inc. (NYSE:FUBO - Get Free Report)'s stock price traded down 4.8% during trading on Wednesday . The company traded as low as $3.41 and last traded at $3.44. 7,851,065 shares were traded during mid-day trading, a decline of 62% from the average session volume of 20,610,537 shares. The stock had previously closed at $3.61.

Wall Street Analyst Weigh In

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

fuboTV Trading Down 4.0%

The firm's 50-day moving average price is $3.29 and its 200-day moving average price is $3.29. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.14 billion, a P/E ratio of 16.65 and a beta of 2.22.

Institutional Trading of fuboTV

Several hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its holdings in fuboTV by 2.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 109,816 shares of the company's stock worth $138,000 after acquiring an additional 2,668 shares during the period. Corebridge Financial Inc. increased its holdings in fuboTV by 2.1% during the 4th quarter. Corebridge Financial Inc. now owns 160,328 shares of the company's stock worth $202,000 after acquiring an additional 3,321 shares during the period. Xponance Inc. increased its holdings in fuboTV by 19.1% during the 4th quarter. Xponance Inc. now owns 23,002 shares of the company's stock worth $29,000 after acquiring an additional 3,689 shares during the period. Principal Financial Group Inc. increased its holdings in fuboTV by 23.3% during the 1st quarter. Principal Financial Group Inc. now owns 22,468 shares of the company's stock worth $66,000 after acquiring an additional 4,239 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in fuboTV by 3.0% during the 1st quarter. MetLife Investment Management LLC now owns 207,550 shares of the company's stock worth $606,000 after acquiring an additional 6,038 shares during the period. Institutional investors own 39.31% of the company's stock.

fuboTV Company Profile

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.