Corsair Gaming (NASDAQ:CRSR) Reaches New 1-Year Low – What’s Next?

Corsair Gaming, Inc. (NASDAQ:CRSR)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $5.28 and last traded at $5.29, with a volume of 711950 shares traded. The stock had previously closed at $5.30.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wedbush cut their price target on Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Craig Hallum set a $10.00 price objective on shares of Corsair Gaming in a research note on Wednesday, November 5th. Wall Street Zen cut shares of Corsair Gaming from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Barclays reduced their price target on shares of Corsair Gaming from $12.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Corsair Gaming in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $9.07.

Corsair Gaming Price Performance

The business’s fifty day moving average is $6.02 and its 200 day moving average is $7.59. The company has a market cap of $563.76 million, a P/E ratio of -15.56 and a beta of 1.53. 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 issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The firm had revenue of $345.76 million for the quarter, compared to analysts’ expectations of $354.04 million. Corsair Gaming had a negative net margin of 2.46% and a positive return on equity of 3.37%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.29) EPS. As a group, sell-side analysts anticipate that Corsair Gaming, Inc. will post 0.22 EPS for the current year.

Insiders Place Their Bets

In related news, Director Samuel R. Szteinbaum bought 100,000 shares of the company’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 completion of the transaction, the director directly owned 420,267 shares in the company, valued at approximately $2,769,559.53. The trade was a 31.22% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Thi L. La purchased 50,000 shares of Corsair Gaming stock in a transaction dated Tuesday, November 25th. The stock was bought at an average price of $6.10 per share, with a total value of $305,000.00. Following the completion of the transaction, the chief executive officer owned 480,726 shares of the company’s stock, valued at $2,932,428.60. This represents a 11.61% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 58.38% of the company’s stock.

Institutional Investors Weigh In On Corsair Gaming

Institutional investors and hedge funds have recently modified their holdings of the company. Virtus Advisers LLC purchased a new stake in Corsair Gaming in the 2nd quarter worth approximately $45,000. Ameritas Investment Partners Inc. grew its position in Corsair Gaming by 30.7% during the second quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock worth $45,000 after buying an additional 1,120 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Corsair Gaming by 245.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock worth $49,000 after acquiring an additional 3,681 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Corsair Gaming by 24.7% during the second quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock worth $74,000 after purchasing an additional 1,551 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Corsair Gaming by 70.6% in the second quarter. PNC Financial Services Group Inc. now owns 8,632 shares of the company’s stock worth $81,000 after purchasing an additional 3,571 shares during the last quarter. 25.66% of the stock is 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.