Corsair Gaming (NASDAQ:CRSR) Shares Down 5.2% – What’s Next?

Corsair Gaming, Inc. (NASDAQ:CRSR) was down 5.2% during mid-day trading on Friday . The stock traded as low as $7.26 and last traded at $7.28. Approximately 234,629 shares traded hands during trading, a decline of 48% from the average daily volume of 454,473 shares. The stock had previously closed at $7.68.

Analyst Upgrades and Downgrades

A number of analysts have commented on CRSR shares. Barclays cut their price target on shares of Corsair Gaming from $14.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Macquarie reduced their price target on Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 8th. 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, November 7th. Robert W. Baird reduced their target price on Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. Finally, Wedbush reissued an “outperform” rating and set a $11.00 target price on shares of Corsair Gaming in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $9.14.

Corsair Gaming Trading Down 5.4 %

The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 1.58. The stock has a market capitalization of $760.12 million, a price-to-earnings ratio of -8.07 and a beta of 1.62. The business has a fifty day simple moving average of $7.02 and a 200 day simple moving average of $7.93.

Hedge Funds Weigh In On Corsair Gaming

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Corsair Gaming by 995.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,745 shares of the company’s stock worth $33,000 after purchasing an additional 4,312 shares in the last quarter. FMR LLC increased its holdings in shares of Corsair Gaming by 89.0% during the third quarter. FMR LLC now owns 4,864 shares of the company’s stock worth $34,000 after purchasing an additional 2,291 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Corsair Gaming in the third quarter valued at approximately $77,000. Glenmede Trust Co. NA bought a new stake in shares of Corsair Gaming in the third quarter valued at approximately $97,000. Finally, SG Americas Securities LLC acquired a new stake in Corsair Gaming during the third quarter worth approximately $101,000. 25.66% of the stock is currently owned by institutional investors and hedge funds.

About Corsair Gaming

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.