FuboTV (NYSE:FUBO) Shares Gap Down – Should You Sell?

Shares of FuboTV Inc. (NYSE:FUBO) gapped down prior to trading on Friday . The stock had previously closed at $3.52, but opened at $2.96. FuboTV shares last traded at $2.77, with a volume of 20,843,591 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Huber Research raised FuboTV to a “strong-buy” rating in a research report on Friday, January 31st. Roth Mkm reissued a “neutral” rating and set a $4.75 price target (up from $2.00) on shares of FuboTV in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.43.

FuboTV Trading Down 13.2 %

The stock has a market cap of $1.02 billion, a PE ratio of -4.56 and a beta of 1.98. The stock’s fifty day moving average price is $3.50 and its 200 day moving average price is $2.25. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.50.

Insider Buying and Selling at FuboTV

In other news, CEO David Gandler sold 1,425,888 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $5.01, for a total transaction of $7,143,698.88. Following the sale, the chief executive officer now owns 346,817 shares of the company’s stock, valued at $1,737,553.17. This trade represents a 80.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John Janedis sold 25,823 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $4.16, for a total transaction of $107,423.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,861,426 shares of company stock worth $9,721,411. Insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On FuboTV

A number of institutional investors and hedge funds have recently modified their holdings of FUBO. United Advisor Group LLC bought a new position in FuboTV in the third quarter valued at about $26,000. Xponance Inc. grew its position in FuboTV by 19.1% during the fourth quarter. Xponance Inc. now owns 23,002 shares of the company’s stock valued at $29,000 after buying an additional 3,689 shares during the period. Raymond James Financial Inc. bought a new position in FuboTV in the fourth quarter worth approximately $35,000. Balyasny Asset Management L.P. bought a new position in FuboTV in the fourth quarter worth approximately $36,000. Finally, EWG Elevate Inc. boosted its stake in shares of FuboTV by 50.0% during the 4th quarter. EWG Elevate Inc. now owns 30,000 shares of the company’s stock worth $38,000 after acquiring an additional 10,000 shares during the last quarter. 39.31% of the stock is currently owned by hedge funds and other institutional investors.

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.