Corsair Gaming (NASDAQ:CRSR) Shares Down 7.3% – Should You Sell?

Corsair Gaming, Inc. (NASDAQ:CRSR) dropped 7.3% during trading on Monday . The stock traded as low as $5.53 and last traded at $5.5150. Approximately 650,622 shares changed hands during trading, a decline of 75% from the average daily volume of 2,644,128 shares. The stock had previously closed at $5.95.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Corsair Gaming in a research note on Monday, December 29th. Zacks Research upgraded Corsair Gaming from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Craig Hallum restated a “buy” rating and set a $8.00 target price on shares of Corsair Gaming in a research note on Friday, February 13th. Barclays reduced their target price on Corsair Gaming from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Finally, Wall Street Zen upgraded Corsair Gaming from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Corsair Gaming has a consensus rating of “Moderate Buy” and an average target price of $7.71.

Corsair Gaming Price Performance

The stock has a fifty day moving average of $5.59 and a 200 day moving average of $6.85. The stock has a market cap of $606.27 million, a price-to-earnings ratio of -43.37 and a beta of 1.53. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.54 and a quick ratio of 0.84.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.17. Corsair Gaming had a negative net margin of 0.87% and a positive return on equity of 6.71%. The company had revenue of $436.86 million for the quarter, compared to the consensus estimate of $422.66 million. During the same quarter in the prior year, the company earned $0.23 EPS. Corsair Gaming’s quarterly revenue was up 5.6% on a year-over-year basis. On average, analysts expect that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Kemnay Advisory Services Inc. acquired a new position in Corsair Gaming during the fourth quarter valued at $37,000. Ameritas Investment Partners Inc. raised its stake in shares of Corsair Gaming by 30.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock valued at $45,000 after buying an additional 1,120 shares during the last quarter. Virtus Advisers LLC acquired a new position in shares of Corsair Gaming in the 2nd quarter valued at about $45,000. Tower Research Capital LLC TRC lifted its holdings in shares of Corsair Gaming by 245.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock valued at $49,000 after buying an additional 3,681 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Corsair Gaming in the fourth quarter worth about $62,000. 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.