Corsair Gaming (NASDAQ:CRSR) Hits New 1-Year Low at $10.31

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) hit a new 52-week low during trading on Wednesday . The company traded as low as $10.31 and last traded at $10.74, with a volume of 284570 shares trading hands. The stock had previously closed at $11.76.

Wall Street Analysts Forecast Growth

CRSR has been the topic of several recent analyst reports. Robert W. Baird lowered their price objective on shares of Corsair Gaming from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 15th. Barclays reduced their price target on Corsair Gaming from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Stifel Nicolaus dropped their price objective on Corsair Gaming from $17.00 to $16.00 and set an “action list buy” rating on the stock in a research note on Wednesday, February 14th. Finally, Wedbush reiterated an “outperform” rating and set a $18.00 target price on shares of Corsair Gaming in a research note on Wednesday. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Corsair Gaming presently has an average rating of “Moderate Buy” and a consensus price target of $15.83.

Corsair Gaming Price Performance

The company has a fifty day simple moving average of $11.93 and a two-hundred day simple moving average of $12.83. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 355.12 and a beta of 1.61. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.13 and a current ratio of 1.70.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The company 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%. As a group, equities research analysts expect that Corsair Gaming, Inc. will post 0.43 earnings per share for the current fiscal year.

Institutional Trading of Corsair Gaming

Several large investors have recently made changes to their positions in CRSR. Covestor Ltd raised its stake in Corsair Gaming by 23,240.0% during the third quarter. Covestor Ltd now owns 2,334 shares of the company’s stock worth $34,000 after acquiring an additional 2,324 shares in the last quarter. SG Americas Securities LLC bought a new position in Corsair Gaming in the 4th quarter valued at approximately $177,000. Victory Capital Management Inc. acquired a new stake in Corsair Gaming in the third quarter valued at approximately $262,000. Amalgamated Bank grew its stake in shares of Corsair Gaming by 6.9% during the third quarter. Amalgamated Bank now owns 19,357 shares of the company’s stock worth $281,000 after buying an additional 1,243 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Corsair Gaming during the fourth quarter worth $305,000. 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.