Short Interest in FuboTV Inc. (NYSE:FUBO) Drops By 9.2%

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

Analyst Ratings Changes

FUBO has been the subject of several analyst reports. Barrington Research reiterated a “market perform” rating on shares of FuboTV in a report on Tuesday, August 20th. Needham & Company LLC reissued a “buy” rating and issued a $2.00 target price on shares of FuboTV in a report on Monday, August 19th. Finally, Seaport Res Ptn downgraded FuboTV from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $2.88.

Institutional Trading of FuboTV

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC grew its stake in FuboTV by 132.6% during the 2nd quarter. Millennium Management LLC now owns 4,810,529 shares of the company’s stock worth $5,965,000 after buying an additional 2,742,780 shares during the last quarter. Marshall Wace LLP raised its position in FuboTV by 114.1% in the 2nd quarter. Marshall Wace LLP now owns 8,373,543 shares of the company’s stock valued at $10,383,000 after purchasing an additional 4,461,707 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in FuboTV during the 1st quarter worth $618,000. Bank of New York Mellon Corp grew its position in FuboTV by 13.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,072,236 shares of the company’s stock worth $1,330,000 after purchasing an additional 127,978 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in FuboTV by 5.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 183,815 shares of the company’s stock valued at $291,000 after purchasing an additional 9,229 shares during the period. Institutional investors and hedge funds own 39.31% of the company’s stock.

FuboTV Price Performance

NYSE:FUBO remained flat at $1.43 during midday trading on Tuesday. 4,199,630 shares of the company traded hands, compared to its average volume of 10,525,273. FuboTV has a 12-month low of $1.10 and a 12-month high of $3.82. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a fifty day moving average of $1.55 and a two-hundred day moving average of $1.44.

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.