Corsair Gaming (NASDAQ:CRSR) Shares Gap Down – What’s Next?

Corsair Gaming, Inc. (NASDAQ:CRSR) shares gapped down prior to trading on Monday . The stock had previously closed at $12.14, but opened at $10.33. Corsair Gaming shares last traded at $10.7740, with a volume of 2,481,229 shares.

Analyst Ratings Changes

A number of analysts have issued reports on CRSR shares. Wedbush raised their target price on Corsair Gaming from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Weiss Ratings raised Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Robert W. Baird set a $6.00 target price on Corsair Gaming in a research note on Friday, February 13th. B. Riley Financial raised their target price on Corsair Gaming from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. Finally, Craig Hallum reaffirmed a “hold” rating and issued a $10.00 target price on shares of Corsair Gaming in a research note on Monday. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.33.

Corsair Gaming Trading Up 0.4%

The firm has a market capitalization of $1.23 billion, a PE ratio of 144.14 and a beta of 1.83. 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 business has a fifty day moving average price of $6.84 and a two-hundred day moving average price of $6.17.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The business had revenue of $354.51 million during the quarter, compared to analysts’ expectations of $351.58 million. Corsair Gaming had a return on equity of 9.71% and a net margin of 0.71%.The company’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 EPS. Analysts expect that Corsair Gaming, Inc. will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Corsair Gaming

A number of hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its holdings in shares of Corsair Gaming by 149.5% during the 1st quarter. Bank of America Corp DE now owns 230,700 shares of the company’s stock worth $1,280,000 after purchasing an additional 138,242 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Corsair Gaming by 160.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 123,537 shares of the company’s stock worth $686,000 after purchasing an additional 76,054 shares during the period. Cetera Investment Advisers purchased a new position in shares of Corsair Gaming during the 1st quarter worth $56,000. First Trust Advisors LP purchased a new position in shares of Corsair Gaming during the 1st quarter worth $606,000. Finally, Principal Financial Group Inc. boosted its holdings in Corsair Gaming by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 228,159 shares of the company’s stock valued at $1,266,000 after acquiring an additional 4,735 shares during the period. 25.66% of the stock is currently owned by hedge funds and other institutional investors.

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.