Corsair Gaming, Inc. (NASDAQ:CRSR) Short Interest Update

Corsair Gaming, Inc. (NASDAQ:CRSRGet Free Report) was the recipient of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 1,670,000 shares, a growth of 15.2% from the May 15th total of 1,450,000 shares. Based on an average daily trading volume, of 325,900 shares, the days-to-cover ratio is presently 5.1 days. Currently, 3.8% of the company’s shares are sold short.

Analyst Ratings Changes

Separately, Wedbush restated an “outperform” rating and set a $18.00 target price on shares of Corsair Gaming in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Corsair Gaming currently has an average rating of “Moderate Buy” and a consensus target price of $15.83.

Check Out Our Latest Stock Analysis on CRSR

Hedge Funds Weigh In On Corsair Gaming

Several hedge funds have recently made changes to their positions in CRSR. Amalgamated Bank boosted its holdings in Corsair Gaming by 6.9% in the third quarter. Amalgamated Bank now owns 19,357 shares of the company’s stock valued at $281,000 after acquiring an additional 1,243 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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 worth $250,000 after purchasing an additional 1,348 shares during the period. Swiss National Bank boosted its stake in shares of Corsair Gaming by 1.5% during the 3rd quarter. Swiss National Bank now owns 100,900 shares of the company’s stock valued at $1,466,000 after purchasing an additional 1,500 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of Corsair Gaming by 6.6% during the fourth quarter. Vontobel Holding Ltd. now owns 25,897 shares of the company’s stock valued at $365,000 after buying an additional 1,612 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Corsair Gaming by 1.6% during the third quarter. Rhumbline Advisers now owns 117,404 shares of the company’s stock valued at $1,706,000 after buying an additional 1,871 shares during the period. 25.66% of the stock is owned by hedge funds and other institutional investors.

Corsair Gaming Trading Up 3.3 %

CRSR stock opened at $11.25 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.08 and a current ratio of 1.82. The firm’s 50-day moving average price is $11.30 and its two-hundred day moving average price is $12.52. Corsair Gaming has a 12-month low of $10.31 and a 12-month high of $18.83.

Corsair Gaming (NASDAQ:CRSRGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). The business had revenue of $337.26 million for the quarter, compared to analysts’ expectations of $364.15 million. Corsair Gaming had a negative net margin of 0.58% and a positive return on equity of 4.70%. As a group, analysts expect that Corsair Gaming will post 0.44 EPS for the current year.

About Corsair Gaming

(Get Free Report)

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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