Short Interest in Corsair Gaming, Inc. (NASDAQ:CRSR) Grows By 18.6%

Corsair Gaming, Inc. (NASDAQ:CRSR - Get Free Report) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 4,210,000 shares, a growth of 18.6% from the January 15th total of 3,550,000 shares. Based on an average trading volume of 737,100 shares, the short-interest ratio is currently 5.7 days. Approximately 9.4% of the shares of the company are sold short.

Analyst Ratings Changes

Several analysts have weighed in on the company. The Goldman Sachs Group cut their target price on Corsair Gaming from $9.00 to $7.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. Wedbush reaffirmed an "outperform" rating and set a $12.00 target price (up previously from $10.00) on shares of Corsair Gaming in a research note on Wednesday, February 5th. Robert W. Baird lifted their target price on Corsair Gaming from $8.00 to $11.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. TD Cowen cut their target price on Corsair Gaming from $10.00 to $9.00 and set a "hold" rating on the stock in a research note on Thursday, November 7th. Finally, Barclays lifted their target price on Corsair Gaming from $9.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $10.14.

Corsair Gaming Price Performance

Shares of NASDAQ CRSR traded up $0.28 during mid-day trading on Wednesday, reaching $12.51. The company had a trading volume of 1,265,911 shares, compared to its average volume of 1,205,590. The company has a current ratio of 1.57, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.31 billion, a PE ratio of -13.17 and a beta of 1.68. The company has a 50-day moving average price of $8.42 and a two-hundred day moving average price of $7.34. Corsair Gaming has a 1-year low of $5.59 and a 1-year high of $13.54.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.16. Corsair Gaming had a negative return on equity of 4.62% and a negative net margin of 7.53%. On average, equities analysts anticipate that Corsair Gaming will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in shares of Corsair Gaming by 995.8% during the third quarter. GAMMA Investing LLC now owns 4,745 shares of the company's stock valued at $33,000 after buying an additional 4,312 shares in the last quarter. FMR LLC lifted its position in shares of Corsair Gaming by 89.0% in the third quarter. FMR LLC now owns 4,864 shares of the company's stock worth $34,000 after buying an additional 2,291 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Corsair Gaming by 220.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,965 shares of the company's stock worth $33,000 after buying an additional 3,414 shares during the last quarter. BNP Paribas acquired a new position in shares of Corsair Gaming during the 4th quarter worth about $33,000. Finally, Quarry LP acquired a new position in shares of Corsair Gaming during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 25.66% of the company's stock.

Corsair Gaming Company Profile

Corsair Gaming, Inc, together with its subsidiaries, designs, develops, markets, and sells gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. It offers gamer and creator peripherals, including gaming keyboards, mice, headsets, controllers, and streaming products, such as capture cards, stream decks, microphones and audio interfaces, facecam streaming cameras, studio accessories, gaming furniture, and other related products.