Corsair Gaming (NASDAQ:CRSR) Trading Down 7.3% – Here’s What Happened

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

Analysts Set New Price Targets

CRSR has been the topic of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $12.00 target price (up from $10.00) on shares of Corsair Gaming in a research note on Wednesday, February 5th. Robert W. Baird raised 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, Barclays lifted their price target on shares of Corsair Gaming from $9.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Corsair Gaming currently has an average rating of “Moderate Buy” and a consensus target price of $10.14.

Corsair Gaming Trading Up 5.5 %

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 firm’s 50 day moving average is $9.95 and its 200 day moving average is $7.90. The company has a market capitalization of $1.10 billion, a PE ratio of -11.07 and a beta of 1.60.

Corsair Gaming (NASDAQ:CRSR) last issued its earnings results on Wednesday, February 12th. The company reported $0.16 EPS for the quarter, hitting 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%. As a group, equities analysts predict that Corsair Gaming, Inc. will post 0.22 EPS for the current year.

Institutional Trading of Corsair Gaming

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in Corsair Gaming by 41.5% in the 4th quarter. GAMMA Investing LLC now owns 6,716 shares of the company’s stock worth $44,000 after purchasing an additional 1,971 shares in the last quarter. FMR LLC lifted its stake in Corsair Gaming by 89.0% during the 3rd quarter. FMR LLC now owns 4,864 shares of the company’s stock valued at $34,000 after acquiring an additional 2,291 shares during the period. Quadrant Capital Group LLC lifted its stake in Corsair Gaming by 45.8% during the 4th quarter. Quadrant Capital Group LLC now owns 8,083 shares of the company’s stock valued at $53,000 after acquiring an additional 2,538 shares during the period. JPMorgan Chase & Co. lifted its stake in Corsair Gaming by 7.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 39,429 shares of the company’s stock valued at $274,000 after acquiring an additional 2,756 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Corsair Gaming by 7.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,745 shares of the company’s stock valued at $257,000 after acquiring an additional 2,789 shares during the period. 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.