Corsair Gaming (NASDAQ:CRSR) Stock Price Down 7.3% – What’s Next?

Corsair Gaming, Inc. (NASDAQ:CRSR) traded down 7.3% on Thursday . The stock traded as low as $10.09 and last traded at $10.07. 478,545 shares were traded during mid-day trading, a decline of 59% from the average session volume of 1,166,075 shares. The stock had previously closed at $10.86.

Wall Street Analyst Weigh In

CRSR has been the subject of a number of recent analyst reports. Barclays boosted their price objective on Corsair Gaming from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Robert W. Baird boosted their target price on shares of Corsair Gaming from $8.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Wedbush reiterated an “outperform” rating and set a $12.00 price objective (up previously from $10.00) on shares of Corsair Gaming in a report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Corsair Gaming currently has an average rating of “Moderate Buy” and an average price target of $10.14.

Corsair Gaming Stock Down 8.2 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.57 and a quick ratio of 0.92. The business’s fifty day moving average price is $9.82 and its two-hundred day moving average price is $7.86. The stock has a market capitalization of $1.05 billion, a PE ratio of -10.49 and a beta of 1.60.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Corsair Gaming had a negative net margin of 7.53% and a negative return on equity of 4.62%. On average, equities research analysts forecast that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Corsair Gaming

Several hedge funds have recently bought and sold shares of CRSR. FMR LLC raised its stake in shares of Corsair Gaming by 89.0% during 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 period. PNC Financial Services Group Inc. lifted its stake in Corsair Gaming by 220.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,965 shares of the company’s stock valued at $33,000 after buying an additional 3,414 shares in the last quarter. BNP Paribas acquired a new stake in Corsair Gaming in the 4th quarter worth about $33,000. Quarry LP purchased a new stake in Corsair Gaming during the 4th quarter worth approximately $34,000. Finally, GAMMA Investing LLC raised its holdings in shares of Corsair Gaming by 41.5% during the fourth quarter. GAMMA Investing LLC now owns 6,716 shares of the company’s stock valued at $44,000 after acquiring an additional 1,971 shares during the last quarter. Hedge funds and other institutional investors own 25.66% of the company’s stock.

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.