Corsair Gaming (NASDAQ:CRSR) Trading Up 9%

Corsair Gaming, Inc. (NASDAQ:CRSR) shares shot up 9% during trading on Tuesday . The company traded as high as $6.66 and last traded at $6.64. 294,485 shares changed hands during trading, a decline of 32% from the average session volume of 430,386 shares. The stock had previously closed at $6.09.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays decreased their price objective on Corsair Gaming from $17.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Robert W. Baird cut their price objective on Corsair Gaming from $14.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, July 19th. The Goldman Sachs Group reduced their target price on shares of Corsair Gaming from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus cut their price target on shares of Corsair Gaming from $16.00 to $11.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, Wedbush decreased their price objective on shares of Corsair Gaming from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Corsair Gaming presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Corsair Gaming Stock Up 9.9 %

The stock has a market cap of $695.13 million, a price-to-earnings ratio of -81.25 and a beta of 1.60. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.08 and a current ratio of 1.82. The firm’s 50-day simple moving average is $9.63 and its two-hundred day simple moving average is $11.22.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.12). The firm had revenue of $261.30 million for the quarter, compared to the consensus estimate of $290.30 million. Corsair Gaming had a positive return on equity of 2.15% and a negative net margin of 2.83%. The business’s revenue for the quarter was down 19.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 earnings per share. On average, sell-side analysts expect that Corsair Gaming, Inc. will post 0.31 EPS for the current fiscal year.

Institutional Trading of Corsair Gaming

A number of institutional investors have recently bought and sold shares of CRSR. Virtu Financial LLC bought a new position in shares of Corsair Gaming in the 1st quarter worth $162,000. PEAK6 Investments LLC raised its position in shares of Corsair Gaming by 144.3% in the 1st quarter. PEAK6 Investments LLC now owns 13,313 shares of the company’s stock valued at $164,000 after acquiring an additional 43,393 shares during the period. SG Americas Securities LLC bought a new position in Corsair Gaming during the 4th quarter worth approximately $177,000. EntryPoint Capital LLC grew its holdings in shares of Corsair Gaming by 286.4% in the 1st quarter. EntryPoint Capital LLC now owns 17,041 shares of the company’s stock valued at $210,000 after buying an additional 12,631 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Corsair Gaming by 7.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,235 shares of the company’s stock worth $250,000 after acquiring an additional 1,348 shares in the last quarter. Institutional investors and hedge funds 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.