Corsair Gaming (NASDAQ:CRSR) Stock Price Up 6.2% – Here’s Why

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on CRSR shares. TD Cowen reduced their target price on Corsair Gaming from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. Barclays reduced their price objective on Corsair Gaming from $14.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Wedbush reiterated an “outperform” rating and issued a $11.00 target price on shares of Corsair Gaming in a research report on Tuesday, November 5th. Macquarie reduced their price target on shares of Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, The Goldman Sachs Group reduced their price objective on Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.14.

Corsair Gaming Stock Down 2.0 %

The company has a debt-to-equity ratio of 0.28, a current ratio of 1.58 and a quick ratio of 0.77. The company has a market cap of $959.05 million, a PE ratio of -10.18 and a beta of 1.63. The business’s fifty day simple moving average is $7.36 and its two-hundred day simple moving average is $7.19.

Institutional Trading of Corsair Gaming

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in Corsair Gaming by 995.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,745 shares of the company’s stock valued at $33,000 after acquiring an additional 4,312 shares during the period. FMR LLC grew its position in shares of Corsair Gaming by 89.0% in the third quarter. FMR LLC now owns 4,864 shares of the company’s stock valued at $34,000 after purchasing an additional 2,291 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Corsair Gaming during the third quarter worth about $77,000. Glenmede Trust Co. NA acquired a new position in shares of Corsair Gaming during the 3rd quarter worth about $97,000. Finally, SG Americas Securities LLC purchased a new position in Corsair Gaming in the 3rd quarter valued at about $101,000. 25.66% of the stock is currently owned by hedge funds and other institutional investors.

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.