Traders Buy Large Volume of Corsair Gaming Call Options (NASDAQ:CRSR)

Corsair Gaming, Inc. (NASDAQ:CRSR) was the target of some unusual options trading activity on Wednesday. Stock traders purchased 7,200 call options on the stock. This is an increase of approximately 321% compared to the typical volume of 1,712 call options.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CRSR. Weiss Ratings raised shares of Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Craig Hallum lifted their target price on shares of Corsair Gaming from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Zacks Research downgraded shares of Corsair Gaming from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. Robert W. Baird set a $6.00 target price on shares of Corsair Gaming in a report on Friday, February 13th. Finally, Wall Street Zen downgraded shares of Corsair Gaming from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Corsair Gaming has a consensus rating of “Hold” and an average price target of $8.33.

Institutional Investors Weigh In On Corsair Gaming

Several hedge funds have recently bought and sold shares of CRSR. Tower Research Capital LLC TRC raised its holdings in Corsair Gaming by 245.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock worth $49,000 after acquiring an additional 3,681 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Corsair Gaming during the 4th quarter worth about $37,000. BNP Paribas Financial Markets boosted its stake in Corsair Gaming by 24.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock valued at $74,000 after purchasing an additional 1,551 shares during the period. Cetera Investment Advisers bought a new stake in Corsair Gaming in the 1st quarter valued at $56,000. Finally, Lazard Asset Management LLC bought a new stake in Corsair Gaming in the 2nd quarter valued at $97,000. 25.66% of the stock is currently owned by institutional investors and hedge funds.

Corsair Gaming Price Performance

Shares of Corsair Gaming stock opened at $11.95 on Friday. Corsair Gaming has a 1-year low of $4.48 and a 1-year high of $13.10. The company has a current ratio of 1.74, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18. The firm’s 50-day moving average price is $6.59 and its two-hundred day moving average price is $6.09. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 149.39 and a beta of 1.59.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. Corsair Gaming had a net margin of 0.71% and a return on equity of 9.71%. The firm had revenue of $354.51 million for the quarter, compared to analysts’ expectations of $351.58 million. During the same period last year, the firm earned $0.11 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities analysts predict that Corsair Gaming will post 0.46 earnings per share for the current fiscal year.

About Corsair Gaming

Corsair Gaming, Inc, headquartered in Fremont, California, is a leading manufacturer of high-performance gaming peripherals and PC components. Since its founding in 1994 by Andy Paul, Don Lieberman and John Beekley as Corsair Microsystems, the company has evolved from producing memory modules to a broad portfolio of gaming hardware. Its product range includes gaming keyboards, mice, headsets, PC chassis, power supplies, cooling solutions, memory modules, solid-state drives and streaming accessories under brands such as Corsair, Elgato and SCUF Gaming.

The company’s solutions cater to PC enthusiasts, competitive gamers and content creators, offering hardware and integrated software designed to optimize performance and user experience.