FuboTV Inc. (FUBO) is experiencing a rise in its stock price today, driven by a notable increase in short interest. The company recently reported that 36.19 million shares are sold short, accounting for 11.14% of all regular shares available for trading. This rise in short interest, up 3.72% since the last report, suggests a growing bearish sentiment among investors. However, an increase in short interest can sometimes lead to a short squeeze, where short sellers are forced to buy back shares to cover their positions, potentially driving the stock price higher.
Additionally, FuboTV's stock is benefiting from a stable average brokerage recommendation (ABR) of 2.63, with two out of eight brokerage firms rating it as a Strong Buy. The average price target for FuboTV is $2.40, indicating a potential upside of 39.53% from the last closing price of $1.72. This positive outlook from analysts may be contributing to the stock's upward momentum.
FuboTV's stock is currently priced at $1.81, reflecting a 5.24% increase from the previous close of $1.72. The stock has traded between a high of $1.82 and a low of $1.66 today. With a volume of 11,750,035 shares, which is 118.15% of its average, the trading activity is notably high.