Corsair Gaming, Inc. (NASDAQ:CRSR - Get Free Report) shares were down 15.6% during mid-day trading on Thursday . The stock traded as low as $7.69 and last traded at $7.56. Approximately 189,353 shares changed hands during trading, a decline of 70% from the average daily volume of 634,413 shares. The stock had previously closed at $8.95.
Analyst Ratings Changes
A number of brokerages have commented on CRSR. Robert W. Baird upped their price objective on Corsair Gaming from $8.00 to $11.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Barclays lifted their target price on Corsair Gaming from $9.00 to $12.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, Wedbush restated an "outperform" rating and set a $12.00 price target (up previously from $10.00) on shares of Corsair Gaming in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.14.
Get Our Latest Report on CRSR
Corsair Gaming Stock Performance
The company has a quick ratio of 0.92, a current ratio of 1.57 and a debt-to-equity ratio of 0.27. The business's fifty day moving average is $10.27 and its two-hundred day moving average is $8.24. The stock has a market capitalization of $637.52 million, a PE ratio of -6.40 and a beta of 1.68.
Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.16 earnings per share 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%. As a group, research analysts anticipate that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.
Insiders Place Their Bets
In other Corsair Gaming news, CFO Michael G. Potter sold 4,124 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $10.08, for a total transaction of $41,569.92. Following the sale, the chief financial officer now owns 125,650 shares of the company's stock, valued at approximately $1,266,552. This trade represents a 3.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 58.89% of the stock is owned by insiders.
Institutional Trading of Corsair Gaming
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. purchased a new stake in Corsair Gaming during the fourth quarter worth about $1,503,000. New York State Common Retirement Fund raised its holdings in Corsair Gaming by 40.4% in the 4th quarter. New York State Common Retirement Fund now owns 738,922 shares of the company's stock valued at $4,884,000 after acquiring an additional 212,792 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Corsair Gaming in the 3rd quarter valued at about $1,094,000. Vanguard Group Inc. increased its position in Corsair Gaming by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 5,813,359 shares of the company's stock worth $38,426,000 after purchasing an additional 148,674 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in Corsair Gaming in the fourth quarter valued at $912,000. 25.66% of the stock is owned by hedge funds and other institutional investors.
About Corsair Gaming
(
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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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