fuboTV (NYSE:FUBO) Sets New 12-Month Low – What’s Next?

fuboTV Inc. (NYSE:FUBO)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $2.25 and last traded at $2.26, with a volume of 14721690 shares changing hands. The stock had previously closed at $2.48.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded fuboTV from a “sell” rating to a “hold” rating in a research report on Friday. Needham & Company LLC reissued a “buy” rating and set a $4.25 target price on shares of fuboTV in a research report on Tuesday, November 4th. Weiss Ratings restated a “sell (d+)” rating on shares of fuboTV in a research report on Wednesday, October 8th. Raymond James Financial initiated coverage on shares of fuboTV in a research note on Monday, December 1st. They set a “market perform” rating for the company. Finally, Zacks Research downgraded shares of fuboTV from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.58.

fuboTV Price Performance

The stock’s 50 day moving average price is $2.74 and its 200-day moving average price is $3.41. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $774.55 million, a PE ratio of 6.28 and a beta of 1.93.

fuboTV (NYSE:FUBO) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.06. fuboTV had a net margin of 7.61% and a negative return on equity of 6.66%. The company had revenue of $377.20 million for the quarter, compared to the consensus estimate of $361.33 million. During the same quarter last year, the firm posted ($0.08) EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts forecast that fuboTV Inc. will post -0.51 EPS for the current year.

Insider Activity

In related news, COO Alberto Horihuela sold 138,753 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $3.16, for a total value of $438,459.48. Following the completion of the sale, the chief operating officer owned 1,563,830 shares in the company, valued at approximately $4,941,702.80. The trade was a 8.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John Janedis sold 130,478 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $3.12, for a total value of $407,091.36. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 610,095 shares of company stock valued at $1,818,811. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On fuboTV

Several institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new position in shares of fuboTV in the 1st quarter valued at about $92,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in fuboTV by 8.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 197,353 shares of the company’s stock valued at $576,000 after purchasing an additional 14,748 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in fuboTV by 13.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 840,262 shares of the company’s stock valued at $2,454,000 after purchasing an additional 99,482 shares during the last quarter. Focus Partners Wealth purchased a new position in fuboTV in the first quarter valued at approximately $30,000. Finally, Fee Only Financial Planning L.C. acquired a new stake in fuboTV during the second quarter worth approximately $51,000. Hedge funds and other 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.