Corsair Gaming (NASDAQ:CRSR) Sees Strong Trading Volume – Time to Buy?

Corsair Gaming, Inc. (NASDAQ:CRSR) saw an uptick in trading volume on Friday . 3,274,916 shares were traded during mid-day trading, an increase of 48% from the previous session’s volume of 2,210,510 shares.The stock last traded at $11.8110 and had previously closed at $11.95.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CRSR. Wall Street Zen cut shares of Corsair Gaming from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Wedbush lifted their target price on shares of Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Robert W. Baird set a $6.00 target price on shares of Corsair Gaming in a research report on Friday, February 13th. Craig Hallum lifted their target price on shares of Corsair Gaming from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Barclays lifted their target price on shares of Corsair Gaming from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.33.

Corsair Gaming Trading Down 2.1%

The company’s 50-day moving average price is $6.59 and its 200-day moving average price is $6.09. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 145.84 and a beta of 1.59. The company has a quick ratio of 0.95, a current ratio of 1.74 and a debt-to-equity ratio of 0.18.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its holdings in Corsair Gaming by 24.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock worth $74,000 after buying an additional 1,551 shares in the last quarter. Legal & General Group Plc lifted its holdings in Corsair Gaming by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 122,484 shares of the company’s stock worth $1,155,000 after buying an additional 1,592 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Corsair Gaming by 4.9% during the 2nd quarter. Prudential Financial Inc. now owns 47,932 shares of the company’s stock worth $452,000 after buying an additional 2,246 shares in the last quarter. Optimize Financial Inc lifted its holdings in Corsair Gaming by 1.5% during the 4th quarter. Optimize Financial Inc now owns 158,745 shares of the company’s stock worth $943,000 after buying an additional 2,284 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Corsair Gaming by 15.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 25,289 shares of the company’s stock worth $238,000 after buying an additional 3,454 shares in the last quarter. 25.66% of the stock is owned by hedge funds and other institutional investors.

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.