Corsair Gaming (NASDAQ:CRSR) Trading Down 7.5% – Should You Sell?

Corsair Gaming, Inc. (NASDAQ:CRSR)’s stock price fell 7.5% during mid-day trading on Wednesday . The stock traded as low as $10.55 and last traded at $10.66. 553,975 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 2,333,382 shares. The stock had previously closed at $11.53.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. B. Riley Financial boosted their price objective on Corsair Gaming from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Zacks Research lowered shares of Corsair Gaming from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. Weiss Ratings upgraded shares of Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Wall Street Zen lowered shares of Corsair Gaming from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Barclays lifted their price objective on shares of Corsair Gaming from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.33.

Corsair Gaming Price Performance

The firm has a market capitalization of $1.14 billion, a PE ratio of 133.64 and a beta of 1.83. The business has a 50-day moving average of $6.84 and a 200 day moving average of $6.17. The company has a current ratio of 1.74, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The firm had revenue of $354.51 million for the quarter, compared to the consensus estimate of $351.58 million. Corsair Gaming had a net margin of 0.71% and a return on equity of 9.71%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 EPS. As a group, research analysts anticipate that Corsair Gaming, Inc. will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Corsair Gaming

Several hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in shares of Corsair Gaming by 24.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock worth $74,000 after buying an additional 1,551 shares during the last quarter. Legal & General Group Plc lifted its holdings in Corsair Gaming by 1.3% during the second quarter. Legal & General Group Plc now owns 122,484 shares of the company’s stock worth $1,155,000 after acquiring an additional 1,592 shares during the period. Prudential Financial Inc. boosted its position in Corsair Gaming by 4.9% in the second quarter. Prudential Financial Inc. now owns 47,932 shares of the company’s stock worth $452,000 after purchasing an additional 2,246 shares during the last quarter. Optimize Financial Inc boosted its position in Corsair Gaming by 1.5% in the fourth quarter. Optimize Financial Inc now owns 158,745 shares of the company’s stock worth $943,000 after purchasing an additional 2,284 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Corsair Gaming by 15.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 25,289 shares of the company’s stock valued at $238,000 after purchasing an additional 3,454 shares during the period. Institutional investors own 25.66% of the company’s stock.

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.