Corsair Gaming (NASDAQ:CRSR) Reaches New 12-Month Low at $10.31

Corsair Gaming, Inc. (NASDAQ:CRSR)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $10.31 and last traded at $10.74, with a volume of 284570 shares. The stock had previously closed at $11.76.

Analyst Ratings Changes

A number of equities research analysts recently commented on CRSR shares. Barclays lowered their price target on shares of Corsair Gaming from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Stifel Nicolaus cut their target price on Corsair Gaming from $17.00 to $16.00 and set an “action list buy” rating on the stock in a research note on Wednesday, February 14th. Wedbush reaffirmed an “outperform” rating and set a $18.00 price target on shares of Corsair Gaming in a research report on Wednesday. Finally, Robert W. Baird cut their price objective on Corsair Gaming from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 15th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Corsair Gaming currently has a consensus rating of “Moderate Buy” and an average price target of $15.83.

Corsair Gaming Stock Performance

The company has a 50-day simple moving average of $11.93 and a two-hundred day simple moving average of $12.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.13 and a current ratio of 1.70. The firm has a market capitalization of $1.14 billion, a P/E ratio of 355.12 and a beta of 1.61.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The firm had revenue of $417.29 million during the quarter, compared to analysts’ expectations of $435.57 million. Corsair Gaming had a return on equity of 5.13% and a net margin of 0.15%. As a group, equities analysts forecast that Corsair Gaming, Inc. will post 0.43 EPS for the current year.

Hedge Funds Weigh In On Corsair Gaming

Institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd boosted its position in shares of Corsair Gaming by 23,240.0% in the 3rd quarter. Covestor Ltd now owns 2,334 shares of the company’s stock worth $34,000 after purchasing an additional 2,324 shares in the last quarter. SG Americas Securities LLC bought a new stake in Corsair Gaming in the fourth quarter worth $177,000. Victory Capital Management Inc. purchased a new stake in shares of Corsair Gaming in the third quarter worth $262,000. Amalgamated Bank grew its stake in shares of Corsair Gaming by 6.9% in 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. Finally, Louisiana State Employees Retirement System bought a new position in shares of Corsair Gaming during the fourth quarter valued at $305,000. Institutional investors 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.