Corsair Gaming (NASDAQ:CRSR) Reaches New 12-Month Low at $11.40

Corsair Gaming, Inc. (NASDAQ:CRSR) shares hit a new 52-week low on Monday . The stock traded as low as $11.40 and last traded at $11.45, with a volume of 28866 shares trading hands. The stock had previously closed at $11.54.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CRSR shares. Barclays cut their price target on Corsair Gaming from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Robert W. Baird lowered their price objective on shares of Corsair Gaming from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 15th. Stifel Nicolaus lowered their price objective on shares of Corsair Gaming from $17.00 to $16.00 and set an “action list buy” rating for the company in a research note on Wednesday, February 14th. Finally, Wedbush reissued an “outperform” rating and set a $21.00 price objective on shares of Corsair Gaming in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.33.

Corsair Gaming Trading Down 2.1 %

The company has a current ratio of 1.70, a quick ratio of 1.13 and a debt-to-equity ratio of 0.27. The business’s 50-day simple moving average is $12.52 and its two-hundred day simple moving average is $13.09. The company has a market capitalization of $1.13 billion, a PE ratio of 365.12 and a beta of 1.61.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The firm had revenue of $417.29 million during the quarter, compared to analysts’ expectations of $435.57 million. Corsair Gaming had a net margin of 0.15% and a return on equity of 5.13%. On average, analysts predict that Corsair Gaming, Inc. will post 0.43 earnings per share for the current year.

Institutional Investors Weigh In On Corsair Gaming

A number of institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Corsair Gaming by 18.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,887 shares of the company’s stock valued at $267,000 after purchasing an additional 2,993 shares in the last quarter. Barclays PLC raised its stake in Corsair Gaming by 199.7% during the fourth quarter. Barclays PLC now owns 59,838 shares of the company’s stock worth $844,000 after acquiring an additional 39,869 shares during the period. Voloridge Investment Management LLC acquired a new stake in Corsair Gaming during the fourth quarter worth about $1,446,000. Nuveen Asset Management LLC raised its stake in Corsair Gaming by 13.4% during the fourth quarter. Nuveen Asset Management LLC now owns 79,102 shares of the company’s stock worth $1,115,000 after acquiring an additional 9,334 shares during the period. Finally, Palisade Capital Management LP raised its stake in Corsair Gaming by 19.2% during the fourth quarter. Palisade Capital Management LP now owns 1,429,110 shares of the company’s stock worth $20,150,000 after acquiring an additional 230,390 shares during the period. Institutional investors and hedge funds own 25.66% of the company’s stock.

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.