Shares of Corsair Gaming, Inc. (NASDAQ:CRSR – Get Free Report) gapped down prior to trading on Friday after Robert W. Baird lowered their price target on the stock from $14.00 to $10.00. The stock had previously closed at $9.72, but opened at $8.84. Robert W. Baird currently has a neutral rating on the stock. Corsair Gaming shares last traded at $8.56, with a volume of 442,199 shares trading hands.
Separately, Wedbush reiterated an “outperform” rating and issued a $18.00 price target on shares of Corsair Gaming in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Corsair Gaming presently has an average rating of “Moderate Buy” and an average price target of $15.17.
Institutional Investors Weigh In On Corsair Gaming
Several hedge funds have recently added to or reduced their stakes in CRSR. Vanguard Group Inc. lifted its stake in shares of Corsair Gaming by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,429,071 shares of the company’s stock worth $78,884,000 after buying an additional 149,947 shares during the last quarter. Capstone Investment Advisors LLC boosted its holdings in shares of Corsair Gaming by 9.0% during the first quarter. Capstone Investment Advisors LLC now owns 27,250 shares of the company’s stock worth $336,000 after acquiring an additional 2,250 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Corsair Gaming by 23.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,633,973 shares of the company’s stock worth $23,040,000 after acquiring an additional 305,602 shares during the period. SG Americas Securities LLC acquired a new position in shares of Corsair Gaming in the fourth quarter valued at approximately $177,000. Finally, GSA Capital Partners LLP bought a new position in shares of Corsair Gaming during the first quarter worth approximately $1,318,000. Institutional investors and hedge funds own 25.66% of the company’s stock.
Corsair Gaming Stock Performance
The company has a fifty day moving average of $10.97 and a two-hundred day moving average of $11.98. The firm has a market capitalization of $890.51 million, a price-to-earnings ratio of -106.25 and a beta of 1.59. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.08 and a current ratio of 1.82.
Corsair Gaming (NASDAQ:CRSR – Get Free Report) last announced its earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). Corsair Gaming had a negative net margin of 0.58% and a positive return on equity of 4.70%. The business had revenue of $337.26 million during the quarter, compared to the consensus estimate of $364.15 million. As a group, equities research analysts predict that Corsair Gaming, Inc. will post 0.44 earnings per share for the current fiscal year.
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.