Corsair Gaming (NASDAQ:CRSR) Shares Gap Up – What’s Next?

Corsair Gaming, Inc. (NASDAQ:CRSR) gapped up before the market opened on Wednesday . The stock had previously closed at $8.09, but opened at $8.77. Corsair Gaming shares last traded at $9.0270, with a volume of 1,458,759 shares.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CRSR shares. Zacks Research downgraded Corsair Gaming from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. Barclays lifted their price target on Corsair Gaming from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Wall Street Zen downgraded Corsair Gaming from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. B. Riley Financial lifted their target price on Corsair Gaming from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Finally, Weiss Ratings upgraded Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.33.

Corsair Gaming Price Performance

The stock has a 50-day moving average price of $6.59 and a 200 day moving average price of $6.09. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.74 and a quick ratio of 0.95. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 149.39 and a beta of 1.59.

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

Institutional Investors Weigh In On Corsair Gaming

Several hedge funds have recently made changes to their positions in CRSR. Invesco Ltd. increased its position in Corsair Gaming by 144.4% in the 4th quarter. Invesco Ltd. now owns 1,330,581 shares of the company’s stock valued at $7,904,000 after acquiring an additional 786,049 shares during the period. Millennium Management LLC increased its position in Corsair Gaming by 506.2% in the 4th quarter. Millennium Management LLC now owns 635,798 shares of the company’s stock valued at $3,777,000 after acquiring an additional 530,914 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Corsair Gaming in the 3rd quarter valued at about $3,877,000. Massachusetts Financial Services Co. MA increased its position in Corsair Gaming by 15.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock valued at $18,075,000 after acquiring an additional 401,171 shares during the period. Finally, ArrowMark Colorado Holdings LLC increased its position in Corsair Gaming by 128.9% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 625,000 shares of the company’s stock valued at $5,575,000 after acquiring an additional 352,000 shares during the period. Institutional investors and hedge funds 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.