FuboTV (NYSE:FUBO) Stock Price Up 4.5% - What's Next?

FuboTV Inc. (NYSE:FUBO - Get Free Report) shot up 4.5% during trading on Thursday . The stock traded as high as $3.53 and last traded at $3.52. 3,272,678 shares were traded during trading, a decline of 84% from the average session volume of 20,325,015 shares. The stock had previously closed at $3.37.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FUBO. Wedbush dropped their price target on FuboTV from $6.40 to $5.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. Needham & Company LLC dropped their target price on shares of FuboTV from $3.35 to $3.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, UBS Group set a $3.50 target price on shares of FuboTV in a research note on Monday, March 3rd. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, FuboTV presently has an average rating of "Moderate Buy" and an average price target of $4.06.

FuboTV Price Performance

The business has a 50-day moving average price of $3.07 and a two-hundred day moving average price of $3.03. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -4.89 and a beta of 2.24.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Nuveen LLC acquired a new stake in shares of FuboTV in the 1st quarter worth about $8,930,000. Vanguard Group Inc. increased its holdings in FuboTV by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 21,144,463 shares of the company's stock worth $61,742,000 after purchasing an additional 2,468,067 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of FuboTV by 45.1% in the fourth quarter. Renaissance Technologies LLC now owns 4,324,700 shares of the company's stock worth $5,449,000 after purchasing an additional 1,344,956 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of FuboTV in the first quarter worth approximately $3,752,000. Finally, Two Sigma Investments LP lifted its holdings in shares of FuboTV by 4,635.3% in the fourth quarter. Two Sigma Investments LP now owns 512,591 shares of the company's stock valued at $646,000 after purchasing an additional 501,766 shares in the last quarter. 39.31% of the stock is owned by institutional investors.

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.