Corsair Gaming (NASDAQ:CRSR) Trading Down 7.3% – Here’s What Happened

Corsair Gaming, Inc. (NASDAQ:CRSR) dropped 7.3% during trading on Thursday . The stock traded as low as $10.09 and last traded at $10.07. Approximately 478,545 shares changed hands during trading, a decline of 59% from the average daily volume of 1,166,075 shares. The stock had previously closed at $10.86.

Analyst Upgrades and Downgrades

CRSR has been the subject of several research reports. Robert W. Baird upped their price target on shares of Corsair Gaming from $8.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Wedbush reissued an “outperform” rating and issued a $12.00 target price (up from $10.00) on shares of Corsair Gaming in a report on Wednesday, February 5th. Finally, Barclays increased their target price on shares of Corsair Gaming from $9.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $10.14.

Corsair Gaming Stock Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.57. The business’s fifty day simple moving average is $9.95 and its 200-day simple moving average is $7.90. The firm has a market capitalization of $1.10 billion, a PE ratio of -11.07 and a beta of 1.60.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. Corsair Gaming had a negative net margin of 7.53% and a negative return on equity of 4.62%. As a group, equities research analysts expect that Corsair Gaming, Inc. will post 0.22 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CRSR. Massachusetts Financial Services Co. MA boosted its position in shares of Corsair Gaming by 85.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,037,958 shares of the company’s stock valued at $28,104,000 after acquiring an additional 1,857,532 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Corsair Gaming during the 4th quarter valued at approximately $1,503,000. New York State Common Retirement Fund boosted its position in shares of Corsair Gaming by 40.4% during the 4th quarter. New York State Common Retirement Fund now owns 738,922 shares of the company’s stock valued at $4,884,000 after acquiring an additional 212,792 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Corsair Gaming during the 3rd quarter valued at approximately $1,094,000. Finally, Vanguard Group Inc. boosted its position in shares of Corsair Gaming by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 5,813,359 shares of the company’s stock valued at $38,426,000 after acquiring an additional 148,674 shares during the last quarter. 25.66% of the stock is currently owned by institutional investors.

About Corsair Gaming

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.