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

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

Analyst Ratings Changes

Several brokerages recently commented on FUBO. Needham & Company LLC dropped their price objective 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 raised shares of fuboTV to a "strong-buy" rating in a research note on Tuesday, July 1st. Three equities 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's stock. According to data from MarketBeat, fuboTV presently has a consensus rating of "Moderate Buy" and an average price target of $4.06.

fuboTV Price Performance

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's 50 day moving average price is $3.28 and its 200-day moving average price is $3.28. The stock has a market cap of $1.17 billion, a P/E ratio of 17.13 and a beta of 2.22.

Institutional Investors Weigh In On fuboTV

Several large investors have recently modified their holdings of FUBO. Focus Partners Wealth acquired a new stake in fuboTV in the first quarter worth $30,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in fuboTV by 13.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 840,262 shares of the company's stock worth $2,454,000 after purchasing an additional 99,482 shares during the period. Dynamic Technology Lab Private Ltd grew its holdings in fuboTV by 174.6% in the first quarter. Dynamic Technology Lab Private Ltd now owns 138,300 shares of the company's stock worth $404,000 after purchasing an additional 87,933 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in fuboTV by 8.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 197,353 shares of the company's stock worth $576,000 after purchasing an additional 14,748 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in fuboTV in the first quarter worth $92,000. 39.31% of the stock is currently owned by institutional investors and hedge funds.

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.