Corsair Gaming (NASDAQ:CRSR) Shares Gap Down Following Analyst Downgrade

Corsair Gaming, Inc. (NASDAQ:CRSR) gapped down before the market opened on Thursday after Macquarie lowered their price target on the stock from $11.00 to $9.00. The stock had previously closed at $7.12, but opened at $6.18. Macquarie currently has an outperform rating on the stock. Corsair Gaming shares last traded at $6.97, with a volume of 299,783 shares traded.

Several other research analysts have also issued reports on CRSR. Robert W. Baird reduced their price target on Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. The Goldman Sachs Group reduced their price target on Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday. Barclays reduced their price target on Corsair Gaming from $14.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday. TD Cowen dropped their price objective on Corsair Gaming from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, Wedbush reissued an “outperform” rating and issued a $11.00 price target on shares of Corsair Gaming in a research note on Tuesday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.14.

Institutional Trading of Corsair Gaming

A number of hedge funds and other institutional investors have recently modified their holdings of CRSR. Vanguard Group Inc. boosted its holdings in shares of Corsair Gaming by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,485,063 shares of the company’s stock worth $67,686,000 after acquiring an additional 64,373 shares during the period. EntryPoint Capital LLC raised its position in Corsair Gaming by 286.4% during the first quarter. EntryPoint Capital LLC now owns 17,041 shares of the company’s stock valued at $210,000 after purchasing an additional 12,631 shares in the last quarter. PEAK6 Investments LLC raised its position in Corsair Gaming by 144.3% during the first quarter. PEAK6 Investments LLC now owns 13,313 shares of the company’s stock valued at $164,000 after purchasing an additional 43,393 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Corsair Gaming by 7.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,235 shares of the company’s stock valued at $250,000 after purchasing an additional 1,348 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Corsair Gaming during the first quarter valued at approximately $162,000. Institutional investors and hedge funds own 25.66% of the company’s stock.

Corsair Gaming Trading Down 4.5 %

The firm has a market capitalization of $681.14 million, a price-to-earnings ratio of -17.68 and a beta of 1.59. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.80 and a quick ratio of 0.97. The firm’s 50-day simple moving average is $6.60 and its 200 day simple moving average is $8.66.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.36) EPS for the quarter. Corsair Gaming had a negative net margin of 2.83% and a positive return on equity of 2.17%. The firm had revenue of $304.20 million for the quarter, compared to analyst estimates of $305.03 million. Equities analysts expect that Corsair Gaming, Inc. will post 0.07 earnings per share for the current year.

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.