FuboTV (NYSE:FUBO) Shares Gap Up – Here’s Why

FuboTV Inc. (NYSE:FUBO)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $5.06, but opened at $5.43. FuboTV shares last traded at $5.98, with a volume of 146,178,452 shares.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reaffirmed a “neutral” rating and set a $4.75 price target (up from $2.00) on shares of FuboTV in a research report on Tuesday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.43.

FuboTV Trading Up 18.1 %

The firm’s 50-day moving average is $1.58 and its 200 day moving average is $1.52. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -8.92 and a beta of 1.78.

Insider Activity at FuboTV

In related news, COO Alberto Horihuela sold 47,478 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $1.47, for a total value of $69,792.66. Following the transaction, the chief operating officer now directly owns 1,471,325 shares of the company’s stock, valued at approximately $2,162,847.75. The trade was a 3.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John Janedis sold 74,326 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $1.47, for a total transaction of $109,259.22. Following the completion of the transaction, the chief financial officer now directly owns 76,766 shares in the company, valued at $112,846.02. This trade represents a 49.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Arkadios Wealth Advisors grew its position in FuboTV by 19.5% during the third quarter. Arkadios Wealth Advisors now owns 73,677 shares of the company’s stock valued at $105,000 after acquiring an additional 12,000 shares during the last quarter. Apollon Wealth Management LLC grew its position in FuboTV by 41.2% during the third quarter. Apollon Wealth Management LLC now owns 42,611 shares of the company’s stock valued at $61,000 after acquiring an additional 12,431 shares during the last quarter. United Advisor Group LLC bought a new position in FuboTV during the third quarter valued at approximately $26,000. Hibernia Wealth Partners LLC bought a new position in FuboTV during the third quarter valued at approximately $27,000. Finally, Algert Global LLC bought a new position in FuboTV during the second quarter valued at approximately $37,000. 39.31% of the stock is currently owned by institutional investors.

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.