Corsair Gaming (NASDAQ:CRSR) Stock Price Down 5.8%

Corsair Gaming, Inc. (NASDAQ:CRSR) shares were down 5.8% on Wednesday . The company traded as low as $6.30 and last traded at $6.30. Approximately 88,444 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 432,527 shares. The stock had previously closed at $6.69.

Wall Street Analyst Weigh In

Several research firms have issued reports on CRSR. Stifel Nicolaus dropped their target price on Corsair Gaming from $16.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Wedbush cut their price objective on Corsair Gaming from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Barclays reduced their target price on Corsair Gaming from $17.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group lowered their price target on shares of Corsair Gaming from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Robert W. Baird reduced their price objective on shares of Corsair Gaming from $14.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $11.00.

Corsair Gaming Price Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.08 and a current ratio of 1.82. The stock has a market capitalization of $644.22 million, a PE ratio of -78.50 and a beta of 1.60. The company’s fifty day simple moving average is $9.53 and its two-hundred day simple moving average is $11.17.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). The company had revenue of $261.30 million for the quarter, compared to analysts’ expectations of $290.30 million. Corsair Gaming had a positive return on equity of 2.15% and a negative net margin of 2.83%. The company’s revenue for the quarter was down 19.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 EPS. As a group, sell-side analysts predict that Corsair Gaming, Inc. will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CRSR. Virtu Financial LLC purchased a new position in Corsair Gaming during the first quarter worth about $162,000. PEAK6 Investments LLC increased its stake in shares of Corsair Gaming by 144.3% during the 1st quarter. PEAK6 Investments LLC now owns 13,313 shares of the company’s stock valued at $164,000 after acquiring an additional 43,393 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in shares of Corsair Gaming by 286.4% during the 1st quarter. EntryPoint Capital LLC now owns 17,041 shares of the company’s stock worth $210,000 after acquiring an additional 12,631 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Corsair Gaming by 7.1% in 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, Louisiana State Employees Retirement System purchased a new stake in Corsair Gaming in the fourth quarter valued at approximately $305,000. Hedge funds and other 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.