Corsair Gaming (NASDAQ:CRSR) Trading 6.2% Higher – What’s Next?

Corsair Gaming, Inc. (NASDAQ:CRSR) shares traded up 6.2% during trading on Wednesday . The stock traded as high as $9.29 and last traded at $9.28. 237,605 shares were traded during mid-day trading, a decline of 66% from the average session volume of 693,564 shares. The stock had previously closed at $8.74.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CRSR. TD Cowen dropped their price target on Corsair Gaming from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. Macquarie cut their target price on Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. The Goldman Sachs Group dropped their price objective on shares of Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Robert W. Baird reduced their target price on shares of 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 issued a $11.00 price objective 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. Based on data from MarketBeat, Corsair Gaming has a consensus rating of “Moderate Buy” and a consensus target price of $9.14.

Corsair Gaming Price Performance

The business has a 50-day simple moving average of $7.27 and a two-hundred day simple moving average of $7.16. The company has a quick ratio of 0.77, a current ratio of 1.58 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $929.11 million, a price-to-earnings ratio of -9.86 and a beta of 1.63.

Hedge Funds Weigh In On Corsair Gaming

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in Corsair Gaming by 995.8% during the 3rd quarter. GAMMA Investing LLC now owns 4,745 shares of the company’s stock valued at $33,000 after purchasing an additional 4,312 shares during the period. FMR LLC grew 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 valued at $34,000 after buying an additional 2,291 shares in the last quarter. Intech Investment Management LLC acquired a new position in Corsair Gaming during the third quarter valued at $77,000. Glenmede Trust Co. NA purchased a new stake in Corsair Gaming in the 3rd quarter worth about $97,000. Finally, SG Americas Securities LLC acquired a new stake in Corsair Gaming during the 3rd quarter worth about $101,000. Institutional investors 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.