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

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FUBO. Needham & Company LLC decreased their target price on shares of fuboTV from $3.35 to $3.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Wedbush upgraded shares of fuboTV to a "strong-buy" rating in a research note on Tuesday, July 1st. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, fuboTV has a consensus rating of "Moderate Buy" and an average price target of $4.06.

fuboTV Stock Down 3.9%

The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 17.35 and a beta of 2.22. The business's 50-day moving average is $3.27 and its two-hundred day moving average is $3.27. 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 Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its stake in fuboTV by 2.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 109,816 shares of the company's stock valued at $138,000 after acquiring an additional 2,668 shares in the last quarter. Corebridge Financial Inc. lifted its holdings in shares of fuboTV by 2.1% in the fourth quarter. Corebridge Financial Inc. now owns 160,328 shares of the company's stock worth $202,000 after buying an additional 3,321 shares in the last quarter. Xponance Inc. lifted its holdings in shares of fuboTV by 19.1% in the fourth quarter. Xponance Inc. now owns 23,002 shares of the company's stock worth $29,000 after buying an additional 3,689 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of fuboTV by 23.3% in the first quarter. Principal Financial Group Inc. now owns 22,468 shares of the company's stock worth $66,000 after buying an additional 4,239 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of fuboTV by 3.0% during the first 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 in the last quarter. Institutional investors and hedge funds 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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