Short Interest in Corsair Gaming, Inc. (NASDAQ:CRSR) Rises By 15.2%

Corsair Gaming, Inc. (NASDAQ:CRSR) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,670,000 shares, an increase of 15.2% from the May 15th total of 1,450,000 shares. Based on an average daily volume of 325,900 shares, the short-interest ratio is currently 5.1 days. Approximately 3.8% of the company’s stock are sold short.

Corsair Gaming Trading Up 3.3 %

Shares of Corsair Gaming stock opened at $11.25 on Tuesday. The company has a fifty day simple moving average of $11.30 and a 200-day simple moving average of $12.52. Corsair Gaming has a 12-month low of $10.31 and a 12-month high of $18.83. 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) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.04). Corsair Gaming had a positive return on equity of 4.70% and a negative net margin of 0.58%. The firm had revenue of $337.26 million for the quarter, compared to analysts’ expectations of $364.15 million. As a group, equities analysts expect that Corsair Gaming will post 0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Wedbush reissued an “outperform” rating and issued a $18.00 target price on shares of Corsair Gaming in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.83.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank grew its position in shares of Corsair Gaming by 6.9% during the third quarter. Amalgamated Bank now owns 19,357 shares of the company’s stock worth $281,000 after acquiring an additional 1,243 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Corsair Gaming by 7.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,235 shares of the company’s stock worth $250,000 after purchasing an additional 1,348 shares during the last quarter. Swiss National Bank increased its stake in Corsair Gaming by 1.5% in the third quarter. Swiss National Bank now owns 100,900 shares of the company’s stock valued at $1,466,000 after purchasing an additional 1,500 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of Corsair Gaming by 6.6% in the fourth quarter. Vontobel Holding Ltd. now owns 25,897 shares of the company’s stock valued at $365,000 after buying an additional 1,612 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Corsair Gaming by 1.6% during the third quarter. Rhumbline Advisers now owns 117,404 shares of the company’s stock worth $1,706,000 after buying an additional 1,871 shares during the period. 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.