fuboTV (NYSE:FUBO) Stock Price Up 21.3% After Analyst Upgrade

fuboTV Inc. (NYSE:FUBO) rose 21.3% on Wednesday after Wedbush raised their price target on the stock from $5.00 to $6.00. Wedbush currently has an outperform rating on the stock. fuboTV traded as high as $4.13 and last traded at $4.29. Approximately 14,442,507 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 27,512,928 shares. The stock had previously closed at $3.54.

Separately, Needham & Company LLC raised their price objective on fuboTV from $3.00 to $4.25 and gave the company a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $4.63.

Hedge Funds Weigh In On fuboTV

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in fuboTV by 13.2% during the first quarter. Vanguard Group Inc. now owns 21,144,463 shares of the company’s stock worth $61,742,000 after buying an additional 2,468,067 shares in the last quarter. Geode Capital Management LLC increased its position in fuboTV by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 7,467,867 shares of the company’s stock worth $9,412,000 after buying an additional 365,827 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of fuboTV by 45.1% in the fourth quarter. Renaissance Technologies LLC now owns 4,324,700 shares of the company’s stock valued at $5,449,000 after purchasing an additional 1,344,956 shares during the period. Nuveen LLC purchased a new stake in shares of fuboTV in the first quarter valued at $8,930,000. Finally, Northern Trust Corp grew its position in shares of fuboTV by 16.9% in the fourth quarter. Northern Trust Corp now owns 2,999,809 shares of the company’s stock valued at $3,780,000 after purchasing an additional 434,406 shares during the period. Hedge funds and other institutional investors own 39.31% of the company’s stock.

fuboTV Stock Performance

The firm has a market cap of $1.41 billion, a PE ratio of 20.70 and a beta of 2.22. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a 50-day moving average price of $3.47 and a 200 day moving average price of $3.37.

fuboTV Company Profile

fuboTV, Inc engages in providing subscription to sports, news, and entertainment content. It offers its services through streaming devices and on television, mobile phones, tablets, and computers. The company was founded by David Gandler, Alberto Horihuela Suarez, and Sung Ho Choi on February 20, 2009 and is headquartered in New York, NY.