Macquarie Issues Pessimistic Forecast for Corsair Gaming (NASDAQ:CRSR) Stock Price

Corsair Gaming (NASDAQ:CRSR - Get Free Report) had its target price lowered by research analysts at Macquarie from $11.00 to $9.00 in a report released on Friday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Macquarie's target price indicates a potential upside of 37.61% from the company's previous close.

A number of other brokerages have also recently issued reports on CRSR. The Goldman Sachs Group reduced their target price on Corsair Gaming from $9.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday. Stifel Nicolaus decreased their price target on shares of Corsair Gaming from $16.00 to $11.00 and set a "buy" rating for the company in a report on Monday, July 22nd. TD Cowen lowered their price objective 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. Barclays reduced their target price on Corsair Gaming from $14.00 to $9.00 and set an "overweight" rating on the stock in a report on Thursday. Finally, Robert W. Baird lowered their price target on Corsair Gaming from $10.00 to $8.00 and set a "neutral" rating for the company in a report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $9.14.

Corsair Gaming Stock Down 4.5 %

Corsair Gaming stock traded down $0.31 during mid-day trading on Friday, hitting $6.54. The stock had a trading volume of 874,340 shares, compared to its average volume of 375,013. The stock has a 50-day simple moving average of $6.59 and a two-hundred day simple moving average of $8.63. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.80 and a quick ratio of 0.97. Corsair Gaming has a 12 month low of $5.59 and a 12 month high of $15.07.

Institutional Investors Weigh In On Corsair Gaming

Hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in Corsair Gaming by 7.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,235 shares of the company's stock valued at $250,000 after acquiring an additional 1,348 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Corsair Gaming by 18.7% during the second quarter. The Manufacturers Life Insurance Company now owns 24,759 shares of the company's stock worth $273,000 after purchasing an additional 3,906 shares during the period. GAMMA Investing LLC boosted its stake in Corsair Gaming by 995.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,745 shares of the company's stock valued at $33,000 after purchasing an additional 4,312 shares during the period. Lebenthal Global Advisors LLC increased its position in Corsair Gaming by 16.2% during the 2nd quarter. Lebenthal Global Advisors LLC now owns 39,508 shares of the company's stock worth $436,000 after buying an additional 5,508 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in shares of Corsair Gaming by 7.0% during the second quarter. Public Sector Pension Investment Board now owns 96,014 shares of the company's stock worth $1,060,000 after buying an additional 6,262 shares in the last quarter. 25.66% of the stock is currently owned by institutional investors and hedge funds.

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.