fuboTV Inc. (NYSE:FUBO) Sees Large Growth in Short Interest

fuboTV Inc. (NYSE:FUBO) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 7,137,761 shares, a growth of 19.7% from the March 31st total of 5,961,556 shares. Based on an average daily volume of 2,927,958 shares, the days-to-cover ratio is currently 2.4 days. Currently, 94.6% of the company’s shares are sold short.

fuboTV Stock Up 11.8%

NYSE FUBO traded up $1.46 on Friday, reaching $13.78. The stock had a trading volume of 2,099,847 shares, compared to its average volume of 2,137,737. The business has a 50 day moving average price of $12.72 and a 200 day moving average price of $26.60. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.85. fuboTV has a 1 year low of $8.31 and a 1 year high of $56.64. The company has a market capitalization of $404.72 million, a price-to-earnings ratio of 2.55 and a beta of 2.50.

Analysts Set New Price Targets

A number of research firms recently weighed in on FUBO. Zacks Research upgraded fuboTV from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 8th. Barrington Research reiterated an “outperform” rating and issued a $16.00 price target on shares of fuboTV in a research report on Tuesday. Wall Street Zen upgraded shares of fuboTV from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Citizens Jmp started coverage on shares of fuboTV in a report on Monday, March 30th. They set a “market outperform” rating and a $13.00 price target on the stock. Finally, Wedbush boosted their price target on shares of fuboTV to $24.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.33.

Hedge Funds Weigh In On fuboTV

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hurley Capital LLC bought a new stake in fuboTV in the fourth quarter worth $25,000. Concurrent Investment Advisors LLC bought a new stake in fuboTV in the fourth quarter worth $26,000. Federated Hermes Inc. boosted its holdings in fuboTV by 177.4% in the third quarter. Federated Hermes Inc. now owns 6,900 shares of the company’s stock worth $29,000 after purchasing an additional 4,413 shares in the last quarter. Ground Swell Capital LLC bought a new stake in fuboTV in the fourth quarter worth $30,000. Finally, Focus Partners Wealth bought a new position in shares of fuboTV in the 1st quarter valued at approximately $30,000. Institutional investors own 39.31% of the company’s stock.

About fuboTV

fuboTV Inc is a sports-focused live TV streaming platform that provides subscribers with access to a broad range of televised sports, news and entertainment programming. The service offers tiered channel packages featuring major networks such as ESPN, Fox Sports, NBC and regional sports networks, along with bundled options for premium channels and international programming. A core element of fuboTV’s proposition is its cloud DVR functionality, which enables users to record live events and store them for later viewing.

In addition to its live television offerings, fuboTV has developed an in-house ad-supported streaming network—fubo Sports Network—that delivers original sports news, analysis and highlights.