Corsair Gaming (NASDAQ:CRSR) Trading Down 7.3% - Here's Why

Corsair Gaming, Inc. (NASDAQ:CRSR - Get Free Report)'s stock price traded down 7.3% on Thursday . The stock traded as low as $10.09 and last traded at $10.07. 478,545 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 1,166,075 shares. The stock had previously closed at $10.86.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Robert W. Baird lifted their price target on shares of Corsair Gaming from $8.00 to $11.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Wedbush reissued an "outperform" rating and set a $12.00 price objective (up previously from $10.00) on shares of Corsair Gaming in a research report on Wednesday, February 5th. Finally, Barclays raised their price objective on Corsair Gaming from $9.00 to $12.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $10.14.

Corsair Gaming Stock Up 5.5 %

The company has a 50-day simple moving average of $9.95 and a 200 day simple moving average of $7.90. The company has a market cap of $1.10 billion, a P/E ratio of -11.07 and a beta of 1.60. The company has a current ratio of 1.57, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27.

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Corsair Gaming (NASDAQ:CRSR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.16 earnings per share for the quarter, meeting 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, Inc. will post 0.22 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CRSR. FMR LLC grew its holdings in Corsair Gaming by 89.0% in the third quarter. FMR LLC now owns 4,864 shares of the company's stock valued at $34,000 after purchasing an additional 2,291 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Corsair Gaming by 220.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,965 shares of the company's stock valued at $33,000 after buying an additional 3,414 shares during the period. BNP Paribas purchased a new stake in shares of Corsair Gaming in the 4th quarter valued at $33,000. Quarry LP acquired a new position in Corsair Gaming during the 4th quarter worth $34,000. Finally, GAMMA Investing LLC boosted its position in shares of Corsair Gaming by 41.5% during the 4th quarter. GAMMA Investing LLC now owns 6,716 shares of the company's stock worth $44,000 after acquiring an additional 1,971 shares in the last quarter. 25.66% of the stock is currently owned by hedge funds and other institutional investors.

About Corsair Gaming

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.