Corsair Gaming (NASDAQ:CRSR) Trading Down 5.2% - Here's What Happened

Corsair Gaming, Inc. (NASDAQ:CRSR - Get Free Report) traded down 5.2% on Friday . The stock traded as low as $7.26 and last traded at $7.28. 234,629 shares were traded during trading, a decline of 48% from the average session volume of 454,473 shares. The stock had previously closed at $7.68.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CRSR shares. Wedbush reaffirmed an "outperform" rating and issued a $11.00 price target on shares of Corsair Gaming in a research note on Tuesday, November 5th. Robert W. Baird decreased their price target on shares of Corsair Gaming from $10.00 to $8.00 and set a "neutral" rating for the company in a research note on Wednesday, September 25th. Barclays dropped their price objective on shares of Corsair Gaming from $14.00 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, November 7th. TD Cowen decreased 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 note on Thursday, November 7th. Finally, The Goldman Sachs Group dropped their price target on 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 investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $9.14.

Corsair Gaming Trading Down 5.4 %

The firm's 50 day moving average price is $7.02 and its 200-day moving average price is $7.93. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.58 and a quick ratio of 0.77. The stock has a market cap of $760.12 million, a P/E ratio of -8.07 and a beta of 1.62.

Hedge Funds Weigh In On Corsair Gaming

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of Corsair Gaming by 995.8% in the third 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 position in 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 buying an additional 2,291 shares during the last quarter. Intech Investment Management LLC bought a new position in Corsair Gaming during the 3rd quarter valued at about $77,000. Glenmede Trust Co. NA purchased a new stake in shares of Corsair Gaming during the 3rd quarter valued at about $97,000. Finally, SG Americas Securities LLC bought a new stake in shares of Corsair Gaming in the third quarter worth approximately $101,000. 25.66% of the stock is owned by 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.