FuboTV (NYSE:FUBO) Stock Price Down 6.3% - Time to Sell?

FuboTV Inc. (NYSE:FUBO - Get Free Report)'s share price dropped 6.3% on Thursday . The stock traded as low as $3.33 and last traded at $3.36. Approximately 10,655,041 shares changed hands during trading, a decline of 48% from the average daily volume of 20,299,165 shares. The stock had previously closed at $3.59.

Analyst Ratings Changes

FUBO has been the subject of several research reports. UBS Group set a $3.50 target price on FuboTV in a report on Monday, March 3rd. 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. Finally, Wedbush cut their price objective on shares of FuboTV from $6.40 to $5.00 and set an "outperform" rating on the stock in a report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, FuboTV currently has an average rating of "Moderate Buy" and an average target price of $4.06.

FuboTV Trading Up 2.8%

The company's fifty day simple moving average is $3.03 and its 200-day simple moving average is $2.97. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $1.18 billion, a PE ratio of -5.16 and a beta of 2.24.

Institutional Inflows and Outflows

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