Short Interest in FuboTV Inc. (NYSE:FUBO) Grows By 7.9%

FuboTV Inc. (NYSE:FUBO) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 37,800,000 shares, an increase of 7.9% from the September 15th total of 35,040,000 shares. Based on an average daily volume of 12,350,000 shares, the short-interest ratio is presently 3.1 days.

FuboTV Price Performance

FUBO opened at $1.58 on Friday. The firm has a market cap of $472.31 million, a PE ratio of -1.77 and a beta of 1.79. The stock has a 50-day moving average price of $1.59 and a 200-day moving average price of $1.43. FuboTV has a 1 year low of $1.10 and a 1 year high of $3.82. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.60 and a quick ratio of 0.60.

FuboTV (NYSE:FUBO) last issued its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.06. FuboTV had a negative net margin of 15.44% and a negative return on equity of 74.58%. The business had revenue of $389.22 million during the quarter, compared to analysts’ expectations of $369.47 million. Sell-side analysts predict that FuboTV will post -0.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on FUBO shares. Needham & Company LLC reiterated a “buy” rating and issued a $2.00 price objective on shares of FuboTV in a report on Monday, August 19th. Barrington Research reiterated a “market perform” rating on shares of FuboTV in a research note on Tuesday, August 20th. Finally, Seaport Res Ptn lowered shares of FuboTV from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $2.88.

Insider Activity at FuboTV

In other FuboTV news, Director Neil Glat purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average price of $1.42 per share, with a total value of $35,500.00. Following the completion of the purchase, the director now directly owns 25,000 shares of the company’s stock, valued at $35,500. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 7.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FUBO. Marshall Wace LLP increased its holdings in FuboTV by 114.1% in the 2nd quarter. Marshall Wace LLP now owns 8,373,543 shares of the company’s stock worth $10,383,000 after buying an additional 4,461,707 shares in the last quarter. Millennium Management LLC grew its stake in shares of FuboTV by 132.6% in the second quarter. Millennium Management LLC now owns 4,810,529 shares of the company’s stock worth $5,965,000 after acquiring an additional 2,742,780 shares during the period. Quadrature Capital Ltd raised its holdings in shares of FuboTV by 528.5% during the first quarter. Quadrature Capital Ltd now owns 1,195,163 shares of the company’s stock valued at $1,882,000 after purchasing an additional 1,005,002 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in FuboTV during the first quarter valued at approximately $618,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in FuboTV in the first quarter worth approximately $313,000. Hedge funds and other institutional investors own 39.31% of the company’s stock.

About FuboTV

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.