Corsair Gaming, Inc. (NASDAQ:CRSR) Short Interest Update

Corsair Gaming, Inc. (NASDAQ:CRSR) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 3,260,000 shares, a decline of 5.2% from the November 15th total of 3,440,000 shares. Based on an average daily trading volume, of 481,500 shares, the short-interest ratio is presently 6.8 days. Approximately 7.3% of the shares of the company are short sold.

Institutional Trading of Corsair Gaming

A number of hedge funds have recently modified their holdings of CRSR. GAMMA Investing LLC grew its holdings in shares of Corsair Gaming by 995.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,745 shares of the company’s stock valued at $33,000 after buying an additional 4,312 shares during the period. FMR LLC lifted its holdings in Corsair Gaming by 89.0% during the third quarter. FMR LLC now owns 4,864 shares of the company’s stock worth $34,000 after acquiring an additional 2,291 shares in the last quarter. Intech Investment Management LLC acquired a new position in Corsair Gaming in the third quarter valued at about $77,000. Glenmede Trust Co. NA bought a new stake in shares of Corsair Gaming in the third quarter worth about $97,000. Finally, SG Americas Securities LLC bought a new stake in shares of Corsair Gaming in the third quarter worth about $101,000. 25.66% of the stock is currently owned by institutional investors and hedge funds.

Corsair Gaming Price Performance

Shares of CRSR stock opened at $7.13 on Tuesday. The firm’s 50 day moving average price is $7.02 and its two-hundred day moving average price is $7.87. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 1.58. Corsair Gaming has a 52-week low of $5.59 and a 52-week high of $14.99. The stock has a market cap of $745.99 million, a PE ratio of -7.92 and a beta of 1.62.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CRSR. Robert W. Baird dropped their price objective on shares of Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. Wedbush restated an “outperform” rating and set a $11.00 price target on shares of Corsair Gaming in a research note on Tuesday, November 5th. Macquarie lowered their price objective on Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. The Goldman Sachs Group cut their target price on Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, TD Cowen decreased their price target on Corsair Gaming from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $9.14.

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.