Corsair Gaming (NASDAQ:CRSR) Shares Up 6.2% - Still a Buy?

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Get Free Report) traded up 6.2% during trading on Wednesday . The company traded as high as $9.29 and last traded at $9.28. 237,605 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 693,564 shares. The stock had previously closed at $8.74.

Wall Street Analysts Forecast Growth

CRSR has been the subject of several recent analyst reports. Robert W. Baird lowered their target price on Corsair Gaming from $10.00 to $8.00 and set a "neutral" rating for the company in a research note on Wednesday, September 25th. TD Cowen dropped their target price on shares of Corsair Gaming from $10.00 to $9.00 and set a "hold" rating for the company in a research report on Thursday, November 7th. Macquarie lowered their price objective on Corsair Gaming from $11.00 to $9.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Wedbush reiterated an "outperform" rating and issued a $11.00 price target on shares of Corsair Gaming in a report on Tuesday, November 5th. Finally, Barclays reduced their price objective on Corsair Gaming from $14.00 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $9.14.

Corsair Gaming Stock Performance

The stock has a market capitalization of $929.11 million, a P/E ratio of -9.86 and a beta of 1.63. The stock's 50-day simple moving average is $7.27 and its 200 day simple moving average is $7.16. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.58 and a quick ratio of 0.77.

Hedge Funds Weigh In On Corsair Gaming

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRSR. GAMMA Investing LLC raised its holdings in Corsair Gaming by 995.8% during the 3rd quarter. GAMMA Investing LLC now owns 4,745 shares of the company's stock worth $33,000 after purchasing an additional 4,312 shares during the last quarter. FMR LLC raised its holdings in shares of Corsair Gaming by 89.0% in the 3rd quarter. FMR LLC now owns 4,864 shares of the company's stock worth $34,000 after acquiring an additional 2,291 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Corsair Gaming in the 3rd quarter worth $77,000. Glenmede Trust Co. NA purchased a new stake in Corsair Gaming in the 3rd quarter valued at about $97,000. Finally, SG Americas Securities LLC bought a new position in Corsair Gaming in the 3rd quarter valued at $101,000. 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.

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