Corsair Gaming (NASDAQ:CRSR) Sets New 52-Week Low – Should You Sell?

Corsair Gaming, Inc. (NASDAQ:CRSR)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $4.98 and last traded at $5.14, with a volume of 6926 shares changing hands. The stock had previously closed at $5.10.

Analyst Ratings Changes

CRSR has been the topic of several research analyst reports. Craig Hallum set a $10.00 price target on shares of Corsair Gaming in a research note on Wednesday, November 5th. B. Riley lowered their price objective on shares of Corsair Gaming from $9.00 to $7.50 and set a “neutral” rating for the company in a research report on Monday, December 22nd. Wall Street Zen downgraded shares of Corsair Gaming from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Corsair Gaming in a report on Monday, December 29th. Finally, Macquarie decreased their price objective on Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $9.07.

Corsair Gaming Stock Up 3.4%

The company has a 50-day simple moving average of $5.95 and a 200-day simple moving average of $7.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.72. The firm has a market cap of $541.06 million, a PE ratio of -14.82 and a beta of 1.55.

Corsair Gaming (NASDAQ:CRSR) last released its earnings results on Tuesday, November 4th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.02). Corsair Gaming had a positive return on equity of 3.37% and a negative net margin of 2.46%.The business had revenue of $345.76 million for the quarter, compared to the consensus estimate of $354.04 million. During the same quarter last year, the business posted ($0.29) earnings per share. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. Analysts expect that Corsair Gaming, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Thi L. La purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were acquired at an average price of $6.10 per share, with a total value of $305,000.00. Following the transaction, the chief executive officer owned 480,726 shares of the company’s stock, valued at $2,932,428.60. This represents a 11.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Samuel R. Szteinbaum purchased 100,000 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were purchased at an average price of $6.59 per share, for a total transaction of $659,000.00. Following the purchase, the director owned 420,267 shares of the company’s stock, valued at approximately $2,769,559.53. This trade represents a 31.22% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 58.38% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Virtus Advisers LLC acquired a new stake in Corsair Gaming in the second quarter valued at approximately $45,000. Ameritas Investment Partners Inc. boosted its position in shares of Corsair Gaming by 30.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock worth $45,000 after purchasing an additional 1,120 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Corsair Gaming by 245.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock worth $49,000 after buying an additional 3,681 shares during the last quarter. BNP Paribas Financial Markets increased its position in Corsair Gaming by 24.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock valued at $74,000 after buying an additional 1,551 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Corsair Gaming by 70.6% in the second quarter. PNC Financial Services Group Inc. now owns 8,632 shares of the company’s stock worth $81,000 after acquiring an additional 3,571 shares in the last quarter. Institutional investors own 25.66% of the company’s stock.

About Corsair Gaming

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.