Corsair Gaming (NASDAQ:CRSR) Shares Down 6.1% – Time to Sell?

Corsair Gaming, Inc. (NASDAQ:CRSR) fell 6.1% during trading on Friday . The company traded as low as $8.44 and last traded at $8.40. 928,565 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 2,363,460 shares. The stock had previously closed at $8.95.

Analyst Ratings Changes

A number of brokerages recently commented on CRSR. Zacks Research cut shares of Corsair Gaming from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. Barclays raised their price target on shares of Corsair Gaming from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings raised shares of Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Wall Street Zen cut shares of Corsair Gaming from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Wedbush raised their price target on shares of Corsair Gaming from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.33.

Corsair Gaming Price Performance

The company’s 50-day moving average is $7.54 and its 200-day moving average is $6.39. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.74 and a quick ratio of 0.95. The firm has a market capitalization of $901.00 million, a price-to-earnings ratio of 105.39 and a beta of 1.83.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.18 by $0.09. Corsair Gaming had a net margin of 0.71% and a return on equity of 9.71%. The firm had revenue of $354.51 million for the quarter, compared to analyst estimates of $351.58 million. During the same quarter last year, the firm posted $0.11 earnings per share. Corsair Gaming’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, research analysts expect that Corsair Gaming, Inc. will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CRSR. Invesco Ltd. raised its holdings in Corsair Gaming by 144.4% in the fourth quarter. Invesco Ltd. now owns 1,330,581 shares of the company’s stock valued at $7,904,000 after buying an additional 786,049 shares during the period. Millennium Management LLC raised its stake in shares of Corsair Gaming by 506.2% during the fourth quarter. Millennium Management LLC now owns 635,798 shares of the company’s stock valued at $3,777,000 after purchasing an additional 530,914 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Corsair Gaming during the third quarter valued at approximately $3,877,000. Massachusetts Financial Services Co. MA raised its stake in shares of Corsair Gaming by 15.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock valued at $18,075,000 after purchasing an additional 401,171 shares during the period. Finally, ArrowMark Colorado Holdings LLC raised its stake in shares of Corsair Gaming by 128.9% during the third quarter. ArrowMark Colorado Holdings LLC now owns 625,000 shares of the company’s stock valued at $5,575,000 after purchasing an additional 352,000 shares during the period. Hedge funds and other institutional investors own 25.66% of the company’s stock.

Corsair Gaming Company Profile

Corsair Gaming, Inc, headquartered in Fremont, California, is a leading manufacturer of high-performance gaming peripherals and PC components. Since its founding in 1994 by Andy Paul, Don Lieberman and John Beekley as Corsair Microsystems, the company has evolved from producing memory modules to a broad portfolio of gaming hardware. Its product range includes gaming keyboards, mice, headsets, PC chassis, power supplies, cooling solutions, memory modules, solid-state drives and streaming accessories under brands such as Corsair, Elgato and SCUF Gaming.

The company’s solutions cater to PC enthusiasts, competitive gamers and content creators, offering hardware and integrated software designed to optimize performance and user experience.