Short Interest in fuboTV Inc. (NYSE:FUBO) Rises By 14.0%

fuboTV Inc. (NYSE:FUBO) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 49,570,000 shares, an increase of 14.0% from the June 30th total of 43,490,000 shares. Based on an average trading volume of 9,030,000 shares, the short-interest ratio is presently 5.5 days.

Analysts Set New Price Targets

Several brokerages recently issued reports on FUBO. Cantor Fitzgerald restated an “overweight” rating and issued a $2.90 price objective on shares of fuboTV in a report on Wednesday, May 1st. Needham & Company LLC reduced their price objective on shares of fuboTV from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Friday, July 5th. Finally, Wedbush restated an “outperform” rating and issued a $5.00 price objective on shares of fuboTV in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2.90.

fuboTV Price Performance

NYSE FUBO traded down $0.03 during trading on Wednesday, hitting $1.43. The stock had a trading volume of 1,240,268 shares, compared to its average volume of 9,679,266. fuboTV has a twelve month low of $1.10 and a twelve month high of $3.87. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a 50 day moving average price of $1.28 and a 200 day moving average price of $1.61.

fuboTV (NYSE:FUBO) last announced its quarterly earnings data on Friday, May 3rd. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.05. The business had revenue of $402.35 million during the quarter, compared to the consensus estimate of $381.95 million. fuboTV had a negative return on equity of 72.13% and a negative net margin of 17.97%. As a group, research analysts predict that fuboTV will post -0.63 earnings per share for the current year.

Hedge Funds Weigh In On fuboTV

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FUBO. PFG Investments LLC acquired a new position in fuboTV in the first quarter valued at $27,000. Power Wealth Management LLC acquired a new position in fuboTV in the fourth quarter valued at $34,000. DekaBank Deutsche Girozentrale acquired a new position in fuboTV in the fourth quarter valued at $36,000. Public Employees Retirement System of Ohio acquired a new position in fuboTV in the first quarter valued at $44,000. Finally, Arkadios Wealth Advisors acquired a new position in shares of fuboTV during the second quarter worth about $76,000. 39.31% of the stock is owned by institutional investors and hedge funds.

fuboTV Company Profile

fuboTV Inc operates a live TV streaming platform for live sports, news, and entertainment content in the United States and internationally. The company's platform allows customers to access content through streaming devices, as well as on SmartTVs, mobile phones, tablets, and computers. fuboTV Inc was incorporated in 2009 and is headquartered in New York, New York.