Corsair Gaming (NASDAQ:CRSR) Hits New 52-Week Low – Time to Sell?

Corsair Gaming, Inc. (NASDAQ:CRSR) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $5.61 and last traded at $5.7250, with a volume of 188531 shares. The stock had previously closed at $5.77.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CRSR shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Corsair Gaming in a research report on Thursday. Barclays cut their target price on shares of Corsair Gaming from $12.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Craig Hallum set a $10.00 price target on shares of Corsair Gaming in a research report on Wednesday, November 5th. B. Riley lowered their price target on Corsair Gaming from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Finally, Wedbush reduced their price objective on Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $9.29.

Corsair Gaming Stock Down 0.2%

The stock has a market capitalization of $613.42 million, a P/E ratio of -16.98 and a beta of 1.85. The company has a current ratio of 1.48, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19. The stock’s 50 day simple moving average is $7.96 and its 200 day simple moving average is $8.60.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). Corsair Gaming had a positive return on equity of 3.37% and a negative net margin of 2.46%.The firm had revenue of $345.76 million during the quarter, compared to analyst estimates of $354.04 million. During the same quarter last year, the business posted ($0.29) earnings per share. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. Corsair Gaming has set its FY 2025 guidance at EPS. As a group, research analysts predict that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling at Corsair Gaming

In other Corsair Gaming news, Director Samuel R. Szteinbaum bought 100,000 shares of the company’s stock in a transaction on Friday, November 7th. The shares were bought at an average cost of $6.59 per share, with a total value of $659,000.00. Following the completion of the acquisition, the director owned 420,267 shares of the company’s stock, valued at approximately $2,769,559.53. This trade represents a 31.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 58.38% of the company’s stock.

Institutional Investors Weigh In On Corsair Gaming

Several institutional investors and hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. lifted its holdings in shares of Corsair Gaming by 30.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock worth $45,000 after purchasing an additional 1,120 shares during the last quarter. Virtus Advisers LLC acquired a new stake in Corsair Gaming in the second quarter worth $45,000. Tower Research Capital LLC TRC lifted its stake in Corsair Gaming by 245.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock valued at $49,000 after buying an additional 3,681 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Corsair Gaming by 24.7% during the second quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock valued at $74,000 after acquiring an additional 1,551 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of Corsair Gaming by 70.6% during the second quarter. PNC Financial Services Group Inc. now owns 8,632 shares of the company’s stock worth $81,000 after acquiring an additional 3,571 shares during the last quarter. Institutional investors and hedge funds own 25.66% of the company’s stock.

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.