Corsair Gaming (NASDAQ:CRSR) Given New $9.00 Price Target at Barclays

Corsair Gaming (NASDAQ:CRSR) had its price target reduced by Barclays from $14.00 to $9.00 in a research note released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently issued reports on CRSR. The Goldman Sachs Group reduced their price objective on Corsair Gaming from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Stifel Nicolaus lowered their price target on Corsair Gaming from $16.00 to $11.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Wedbush restated an “outperform” rating and issued a $11.00 target price on shares of Corsair Gaming in a report on Tuesday. Finally, Robert W. Baird reduced their target price on Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.14.

Corsair Gaming Stock Down 4.5 %

Shares of NASDAQ CRSR traded down $0.31 during mid-day trading on Thursday, reaching $6.54. The company had a trading volume of 869,941 shares, compared to its average volume of 449,739. Corsair Gaming has a 52-week low of $5.59 and a 52-week high of $15.07. The company has a current ratio of 1.80, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The firm has a 50 day simple moving average of $6.60 and a two-hundred day simple moving average of $8.66. The stock has a market cap of $681.14 million, a P/E ratio of -17.68 and a beta of 1.59.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.36) EPS for the quarter. Corsair Gaming had a negative net margin of 2.83% and a positive return on equity of 2.17%. The company had revenue of $304.20 million during the quarter, compared to analyst estimates of $305.03 million. Sell-side analysts predict that Corsair Gaming will post 0.07 earnings per share for the current year.

Institutional Trading of Corsair Gaming

Several institutional investors and hedge funds have recently bought and sold shares of CRSR. GAMMA Investing LLC lifted its position 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 acquiring an additional 4,312 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Corsair Gaming in the second quarter worth $121,000. Virtu Financial LLC purchased a new position in shares of Corsair Gaming during the first quarter valued at $162,000. PEAK6 Investments LLC raised its position in Corsair Gaming by 144.3% during the first quarter. PEAK6 Investments LLC now owns 13,313 shares of the company’s stock valued at $164,000 after buying an additional 43,393 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Corsair Gaming in the 3rd quarter worth about $101,000. Institutional investors and hedge funds own 25.66% of the company’s stock.

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.