Corsair Gaming (NASDAQ:CRSR) Trading 17.3% Higher

Corsair Gaming, Inc. (NASDAQ:CRSRGet Rating) shares rose 17.3% during trading on Friday . The stock traded as high as $14.88 and last traded at $14.81. Approximately 12,738 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 477,270 shares. The stock had previously closed at $12.63.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CRSR. Credit Suisse Group dropped their price objective on Corsair Gaming from $18.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday. Cowen lowered their price target on shares of Corsair Gaming to $17.00 in a report on Tuesday, August 9th. Wedbush reiterated an “outperform” rating on shares of Corsair Gaming in a research note on Wednesday, October 26th. Finally, DA Davidson decreased their target price on shares of Corsair Gaming to $20.00 in a research report on Tuesday, August 9th.

Corsair Gaming Price Performance

The company has a quick ratio of 0.74, a current ratio of 1.56 and a debt-to-equity ratio of 0.45. The firm has a market cap of $1.44 billion, a PE ratio of -29.41 and a beta of 1.74. The stock has a 50 day moving average price of $13.10 and a two-hundred day moving average price of $14.38.

Corsair Gaming (NASDAQ:CRSRGet Rating) last released its earnings results on Thursday, August 4th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.27). The company had revenue of $283.90 million for the quarter, compared to analysts’ expectations of $274.81 million. Corsair Gaming had a positive return on equity of 4.42% and a negative net margin of 2.43%. The firm’s revenue for the quarter was down 40.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 EPS. As a group, equities analysts expect that Corsair Gaming, Inc. will post 0.11 earnings per share for the current year.

Institutional Investors Weigh In On Corsair Gaming

A number of large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its position in Corsair Gaming by 429.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,509 shares of the company’s stock worth $32,000 after acquiring an additional 1,224 shares during the period. KBC Group NV acquired a new stake in shares of Corsair Gaming during the second quarter worth about $37,000. Captrust Financial Advisors boosted its position in Corsair Gaming by 1,179.2% in the second quarter. Captrust Financial Advisors now owns 5,104 shares of the company’s stock valued at $67,000 after buying an additional 4,705 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in Corsair Gaming by 17.8% in the 2nd quarter. Mutual of America Capital Management LLC now owns 5,607 shares of the company’s stock worth $74,000 after buying an additional 849 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in Corsair Gaming during the 1st quarter worth approximately $107,000. 22.91% of the stock is owned by hedge funds and other institutional investors.

Corsair Gaming Company Profile

(Get Rating)

Corsair Gaming, Inc, together with its subsidiaries, designs, markets, and distributes gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers gamer and creator peripherals, including gaming keyboards, mice, headsets, and controllers, as well as capture cards, stream decks, USB microphones, studio accessories, and EpocCam software.

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