Corsair Gaming (NASDAQ:CRSR) Hits New 12-Month Low – Here’s Why

Corsair Gaming, Inc. (NASDAQ:CRSR) shares reached a new 52-week low on Wednesday . The company traded as low as $5.34 and last traded at $5.3750, with a volume of 803133 shares trading hands. The stock had previously closed at $5.43.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Macquarie decreased their price objective on Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. B. Riley decreased their price target on Corsair Gaming from $9.00 to $7.50 and set a “neutral” rating for the company in a research note on Monday, December 22nd. Barclays lowered their price target on Corsair Gaming from $12.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Corsair Gaming in a research report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Corsair Gaming from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.07.

Corsair Gaming Price Performance

The firm has a market capitalization of $564.82 million, a P/E ratio of -15.59 and a beta of 1.53. The business’s fifty day moving average is $6.03 and its 200 day moving average is $7.65. The company has a current ratio of 1.48, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The company had revenue of $345.76 million for the quarter, compared to analyst estimates of $354.04 million. Corsair Gaming had a negative net margin of 2.46% and a positive return on equity of 3.37%. Corsair Gaming’s revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.29) EPS. As a group, analysts forecast that Corsair Gaming, Inc. will post 0.22 EPS for the current year.

Insider Transactions at Corsair Gaming

In related news, Director Samuel R. Szteinbaum acquired 100,000 shares of the business’s stock in a transaction on Friday, November 7th. The shares were purchased at an average price of $6.59 per share, for a total transaction of $659,000.00. Following the acquisition, the director owned 420,267 shares in the company, valued at approximately $2,769,559.53. This represents a 31.22% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thi L. La acquired 50,000 shares of Corsair Gaming stock in a transaction on Tuesday, November 25th. The shares were purchased at an average cost of $6.10 per share, with a total value of $305,000.00. Following the completion of the purchase, the chief executive officer directly owned 480,726 shares of the company’s stock, valued at approximately $2,932,428.60. This represents a 11.61% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 58.38% of the company’s stock.

Hedge Funds Weigh In On Corsair Gaming

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRSR. Vanguard Group Inc. lifted its holdings in shares of Corsair Gaming by 4.0% in the third quarter. Vanguard Group Inc. now owns 6,916,703 shares of the company’s stock valued at $61,697,000 after purchasing an additional 269,193 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Corsair Gaming by 15.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock valued at $18,075,000 after buying an additional 401,171 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Corsair Gaming by 3.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,784,310 shares of the company’s stock valued at $24,833,000 after buying an additional 98,588 shares during the period. Geode Capital Management LLC lifted its stake in Corsair Gaming by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,231,456 shares of the company’s stock worth $11,614,000 after acquiring an additional 61,075 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Corsair Gaming by 0.4% in the 2nd quarter. New York State Common Retirement Fund now owns 737,393 shares of the company’s stock worth $6,954,000 after acquiring an additional 2,969 shares in the last quarter. 25.66% of the stock is currently owned by hedge funds and other institutional investors.

About Corsair Gaming

Corsair Gaming, Inc, headquartered in Fremont, California, is a leading manufacturer of high-performance gaming peripherals and PC components. Since its founding in 1994 by Andy Paul, Don Lieberman and John Beekley as Corsair Microsystems, the company has evolved from producing memory modules to a broad portfolio of gaming hardware. Its product range includes gaming keyboards, mice, headsets, PC chassis, power supplies, cooling solutions, memory modules, solid-state drives and streaming accessories under brands such as Corsair, Elgato and SCUF Gaming.

The company’s solutions cater to PC enthusiasts, competitive gamers and content creators, offering hardware and integrated software designed to optimize performance and user experience.