Corsair Gaming (NASDAQ:CRSR) Stock Price Up 9%

Corsair Gaming, Inc. (NASDAQ:CRSR) shares traded up 9% on Tuesday . The stock 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.

Analysts Set New Price Targets

CRSR has been the topic of a number of analyst reports. Barclays decreased their price objective on shares of Corsair Gaming from $17.00 to $14.00 and set an “overweight” rating on the stock in a research 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 research report on Monday, July 22nd. The Goldman Sachs Group cut their price objective on Corsair Gaming from $13.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Wedbush decreased their target price on Corsair Gaming from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Robert W. Baird cut their price target on shares of Corsair Gaming from $14.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Corsair Gaming currently has an average rating of “Moderate Buy” and an average target price of $11.00.

Corsair Gaming Price Performance

The firm’s 50 day moving average is $9.63 and its 200 day moving average is $11.22. The firm has a market cap of $695.13 million, a P/E ratio of -81.25 and a beta of 1.60. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.08.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CRSR. Sei Investments Co. purchased a new position in shares of Corsair Gaming in the second quarter worth approximately $496,000. Renaissance Technologies LLC boosted its stake in shares of Corsair Gaming by 12.2% during the 2nd quarter. Renaissance Technologies LLC now owns 418,033 shares of the company’s stock worth $4,615,000 after acquiring an additional 45,400 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Corsair Gaming by 7.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,180,426 shares of the company’s stock valued at $24,072,000 after acquiring an additional 153,036 shares during the period. Rhumbline Advisers increased its stake in shares of Corsair Gaming by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 134,322 shares of the company’s stock worth $1,483,000 after purchasing an additional 13,940 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Corsair Gaming by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,252,737 shares of the company’s stock worth $13,830,000 after purchasing an additional 41,832 shares in the last quarter. 25.66% of the stock is owned by hedge funds and other 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.