Corsair Gaming Sees Unusually High Options Volume (NASDAQ:CRSR)

Corsair Gaming, Inc. (NASDAQ:CRSR) was the target of some unusual options trading activity on Thursday. Investors bought 7,695 call options on the company. This is an increase of 718% compared to the typical volume of 941 call options.

Analyst Ratings Changes

CRSR has been the topic of a number of research reports. TD Cowen lowered their price target on Corsair Gaming from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. Macquarie lowered their target price on Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. The Goldman Sachs Group cut their price target on Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Robert W. Baird lifted their price objective on shares of Corsair Gaming from $8.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Barclays upped their price objective on shares of Corsair Gaming from $9.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.14.

Institutional Trading of Corsair Gaming

Several large investors have recently modified their holdings of CRSR. The Manufacturers Life Insurance Company lifted its stake in Corsair Gaming by 18.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,759 shares of the company’s stock valued at $273,000 after buying an additional 3,906 shares in the last quarter. SG Americas Securities LLC purchased a new position in Corsair Gaming in the 3rd quarter valued at about $101,000. GAMMA Investing LLC boosted its stake in shares of Corsair Gaming by 995.8% during the 3rd quarter. GAMMA Investing LLC now owns 4,745 shares of the company’s stock worth $33,000 after purchasing an additional 4,312 shares during the last quarter. Creative Planning raised its position in shares of Corsair Gaming by 579.2% in the third quarter. Creative Planning now owns 82,182 shares of the company’s stock valued at $572,000 after buying an additional 70,083 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Corsair Gaming during the third quarter valued at approximately $462,000. 25.66% of the stock is currently owned by institutional investors and hedge funds.

Corsair Gaming Price Performance

Shares of CRSR traded up $1.86 on Thursday, reaching $11.80. The stock had a trading volume of 2,416,955 shares, compared to its average volume of 1,052,164. The firm has a 50-day moving average of $7.95 and a 200 day moving average of $7.18. The firm has a market capitalization of $1.23 billion, a PE ratio of -13.11 and a beta of 1.68. Corsair Gaming has a twelve month low of $5.59 and a twelve month high of $14.13. 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 (NASDAQ:CRSR) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Corsair Gaming had a negative return on equity of 4.58% and a negative net margin of 7.14%. Sell-side analysts expect that Corsair Gaming will post -0.38 EPS for the current year.

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.