FuboTV Inc. (NYSE:FUBO) Sees Large Decrease in Short Interest

FuboTV Inc. (NYSE:FUBO) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 34,910,000 shares, a decline of 9.2% from the October 15th total of 38,440,000 shares. Based on an average daily trading volume, of 12,540,000 shares, the days-to-cover ratio is currently 2.8 days.

FuboTV Stock Down 5.0 %

FUBO stock traded down $0.07 during midday trading on Monday, reaching $1.44. 7,211,334 shares of the company were exchanged, compared to its average volume of 10,553,273. The company has a market cap of $479.42 million, a price-to-earnings ratio of -2.14 and a beta of 1.76. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.54. FuboTV has a 1-year low of $1.10 and a 1-year high of $3.82. The stock’s 50-day simple moving average is $1.55 and its 200 day simple moving average is $1.44.

Analyst Ratings Changes

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

Institutional Investors Weigh In On FuboTV

Several hedge funds and other institutional investors have recently bought and sold shares of FUBO. Geode Capital Management LLC boosted its stake in FuboTV by 6.4% in the third quarter. Geode Capital Management LLC now owns 7,102,040 shares of the company’s stock valued at $10,087,000 after acquiring an additional 425,906 shares in the last quarter. Barclays PLC boosted its position in shares of FuboTV by 121.3% in the 3rd quarter. Barclays PLC now owns 1,256,459 shares of the company’s stock valued at $1,784,000 after purchasing an additional 688,625 shares during the period. State Street Corp boosted its position in shares of FuboTV by 1.9% in the 3rd quarter. State Street Corp now owns 6,934,875 shares of the company’s stock valued at $9,848,000 after purchasing an additional 132,167 shares during the period. FMR LLC grew its stake in FuboTV by 84.5% during the 3rd quarter. FMR LLC now owns 101,914 shares of the company’s stock worth $145,000 after buying an additional 46,670 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in FuboTV by 8.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,588,921 shares of the company’s stock worth $3,676,000 after buying an additional 200,154 shares during the period. 39.31% of the stock is currently owned by institutional investors and hedge funds.

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.