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

Corsair Gaming, Inc. (NASDAQ:CRSR) shares gapped down before the market opened on Thursday after TD Cowen lowered their price target on the stock from $10.00 to $9.00. The stock had previously closed at $7.12, but opened at $6.18. TD Cowen currently has a hold rating on the stock. Corsair Gaming shares last traded at $6.97, with a volume of 299,783 shares.

Several other analysts have also recently weighed in on the company. Barclays dropped their price objective on Corsair Gaming from $14.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday. Stifel Nicolaus decreased their target price on Corsair Gaming from $16.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. The Goldman Sachs Group decreased their target price on Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday. Wedbush restated an “outperform” rating and set a $11.00 target price on shares of Corsair Gaming in a research report on Tuesday. Finally, Robert W. Baird decreased their target price on Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.17.

Institutional Investors Weigh In On Corsair Gaming

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Corsair Gaming by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 5,485,063 shares of the company’s stock valued at $67,686,000 after buying an additional 64,373 shares in the last quarter. EntryPoint Capital LLC boosted its stake in Corsair Gaming by 286.4% in the first quarter. EntryPoint Capital LLC now owns 17,041 shares of the company’s stock valued at $210,000 after buying an additional 12,631 shares in the last quarter. PEAK6 Investments LLC raised its position in shares of Corsair Gaming by 144.3% during the first quarter. PEAK6 Investments LLC now owns 13,313 shares of the company’s stock worth $164,000 after acquiring an additional 43,393 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of 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 worth $250,000 after acquiring an additional 1,348 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Corsair Gaming during the first quarter worth about $162,000. Institutional investors own 25.66% of the company’s stock.

Corsair Gaming Stock Down 3.8 %

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 company has a market capitalization of $713.43 million, a P/E ratio of -18.59 and a beta of 1.59. The stock has a 50-day moving average price of $6.60 and a 200-day moving average price of $8.67.

Corsair Gaming (NASDAQ:CRSR) last released its earnings results on Wednesday, November 6th. The company reported ($0.36) EPS for the quarter. Corsair Gaming had a positive return on equity of 2.17% and a negative net margin of 2.83%. The business had revenue of $304.20 million for the quarter, compared to analyst estimates of $305.03 million. On average, research analysts predict that Corsair Gaming, Inc. will post 0.07 EPS for the current fiscal year.

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.