Corsair Gaming (NASDAQ:CRSR) Hits New 52-Week Low at $10.62

Corsair Gaming, Inc. (NASDAQ:CRSR) shares hit a new 52-week low during trading on Monday . The company traded as low as $10.62 and last traded at $10.64, with a volume of 51605 shares changing hands. The stock had previously closed at $10.72.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRSR. Stifel Nicolaus lowered their target price on Corsair Gaming from $17.00 to $16.00 and set an “action list buy” rating for the company in a research report on Wednesday, February 14th. Robert W. Baird lowered their target price on Corsair Gaming from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, February 15th. Wedbush reaffirmed an “outperform” rating and set a $21.00 target price on shares of Corsair Gaming in a research report on Wednesday, February 7th. Finally, Barclays lowered their target price on Corsair Gaming from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Three 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.33.

Corsair Gaming Stock Performance

The company has a 50-day moving average price of $12.30 and a two-hundred day moving average price of $12.97. 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 stock has a market capitalization of $1.14 billion, a P/E ratio of 367.12 and a beta of 1.61.

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

Hedge Funds Weigh In On Corsair Gaming

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Corsair Gaming by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,429,071 shares of the company’s stock valued at $78,884,000 after purchasing an additional 149,947 shares during the last quarter. SG Americas Securities LLC acquired a new position in Corsair Gaming during the 4th quarter valued at about $177,000. Mirabella Financial Services LLP acquired a new position in Corsair Gaming during the 3rd quarter valued at about $1,421,000. Swiss National Bank boosted its stake in Corsair Gaming by 1.5% during the 3rd quarter. Swiss National Bank now owns 100,900 shares of the company’s stock valued at $1,466,000 after purchasing an additional 1,500 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Corsair Gaming during the 3rd quarter valued at about $840,000. 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.