Wedbush Reiterates Outperform Rating for Corsair Gaming (NASDAQ:CRSR)

Corsair Gaming (NASDAQ:CRSR)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a research note issued to investors on Wednesday,RTT News reports. They currently have a $12.00 target price on the stock, up from their previous target price of $10.00. Wedbush’s price target indicates a potential upside of 23.08% from the company’s current price.

CRSR has been the subject of a number of other reports. Macquarie decreased their price objective on Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Barclays decreased their price target on shares of Corsair Gaming from $14.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. TD Cowen decreased their target price on shares of Corsair Gaming from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group cut their price target on shares of Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Corsair Gaming currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.29.

Corsair Gaming Stock Up 2.5 %

CRSR traded up $0.24 during trading on Wednesday, hitting $9.75. The company had a trading volume of 358,588 shares, compared to its average volume of 893,768. The company has a market capitalization of $1.02 billion, a PE ratio of -10.83 and a beta of 1.67. The company has a quick ratio of 0.77, a current ratio of 1.58 and a debt-to-equity ratio of 0.28. Corsair Gaming has a one year low of $5.59 and a one year high of $14.13. The firm’s 50-day moving average price is $7.70 and its 200 day moving average price is $7.11.

Institutional Investors Weigh In On Corsair Gaming

A number of institutional investors and hedge funds have recently modified their holdings of CRSR. Proficio Capital Partners LLC acquired a new position in Corsair Gaming in the 4th quarter valued at about $90,000. New York State Common Retirement Fund grew its position in shares of Corsair Gaming by 40.4% in the fourth quarter. New York State Common Retirement Fund now owns 738,922 shares of the company’s stock valued at $4,884,000 after purchasing an additional 212,792 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Corsair Gaming by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 218,742 shares of the company’s stock worth $1,446,000 after purchasing an additional 7,351 shares during the period. Vontobel Holding Ltd. lifted its holdings in Corsair Gaming by 133.0% during the 4th quarter. Vontobel Holding Ltd. now owns 70,109 shares of the company’s stock worth $463,000 after purchasing an additional 40,015 shares during the last quarter. Finally, 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 valued at $44,000 after purchasing an additional 1,971 shares during the period. 25.66% of the stock is owned by institutional investors.

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.