Corsair Gaming (NASDAQ:CRSR) Sees Unusually-High Trading Volume Following Analyst Upgrade

Corsair Gaming, Inc. (NASDAQ:CRSR - Get Free Report) shares saw unusually-high trading volume on Thursday after Barclays raised their price target on the stock from $9.00 to $12.00. Barclays currently has an overweight rating on the stock. Approximately 1,208,122 shares traded hands during trading, an increase of 20% from the previous session's volume of 1,003,132 shares.The stock last traded at $11.89 and had previously closed at $9.94.

Several other research firms have also weighed in on CRSR. TD Cowen reduced their target price on shares of Corsair Gaming from $10.00 to $9.00 and set a "hold" rating on the stock in a report on Thursday, November 7th. Wedbush restated an "outperform" rating and set a $12.00 price objective (up previously from $10.00) on shares of Corsair Gaming in a research note on Wednesday, February 5th. Macquarie reduced their price target on Corsair Gaming from $11.00 to $9.00 and set an "outperform" rating on the stock in a research report on Friday, November 8th. Robert W. Baird boosted their target price on shares of Corsair Gaming from $8.00 to $11.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, The Goldman Sachs Group reduced their target price on shares of Corsair Gaming from $9.00 to $7.00 and set a "neutral" rating on the stock in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Corsair Gaming presently has an average rating of "Moderate Buy" and an average price target of $10.14.

Institutional Trading of Corsair Gaming

Institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its stake in shares of Corsair Gaming by 85.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,037,958 shares of the company's stock valued at $28,104,000 after purchasing an additional 1,857,532 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in Corsair Gaming during the fourth quarter valued at approximately $1,503,000. New York State Common Retirement Fund raised its stake in Corsair Gaming by 40.4% during the fourth quarter. New York State Common Retirement Fund now owns 738,922 shares of the company's stock valued at $4,884,000 after buying an additional 212,792 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Corsair Gaming during the 3rd quarter valued at approximately $1,094,000. Finally, Vanguard Group Inc. raised its position in shares of Corsair Gaming by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 5,813,359 shares of the company's stock valued at $38,426,000 after acquiring an additional 148,674 shares in the last quarter. 25.66% of the stock is owned by institutional investors and hedge funds.

Corsair Gaming Stock Performance

The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -13.80 and a beta of 1.68. The company has a 50-day moving average of $8.15 and a 200-day moving average of $7.23. The company has a current ratio of 1.58, a quick ratio of 0.77 and a debt-to-equity ratio of 0.28.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Corsair Gaming had a negative net margin of 7.14% and a negative return on equity of 4.58%. On average, equities research analysts forecast that Corsair Gaming, Inc. will post -0.38 earnings per share for the current fiscal year.

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.