Corsair Gaming, Inc. (NASDAQ:CRSR – Get Rating) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 6,470,000 shares, a decrease of 8.9% from the August 15th total of 7,100,000 shares. Currently, 17.0% of the shares of the company are sold short. Based on an average daily volume of 606,800 shares, the short-interest ratio is presently 10.7 days.
Wall Street Analyst Weigh In
CRSR has been the subject of several research reports. DA Davidson reduced their price objective on Corsair Gaming to $20.00 in a report on Tuesday, August 9th. Cowen dropped their target price on Corsair Gaming to $17.00 in a research report on Tuesday, August 9th. 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 data from MarketBeat.com, Corsair Gaming presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.22.
Corsair Gaming Price Performance
Shares of CRSR stock traded down $0.48 on Tuesday, reaching $12.90. The company’s stock had a trading volume of 8,645 shares, compared to its average volume of 555,032. The company has a quick ratio of 0.74, a current ratio of 1.56 and a debt-to-equity ratio of 0.45. Corsair Gaming has a 12-month low of $12.23 and a 12-month high of $28.95. The company has a market capitalization of $1.24 billion, a P/E ratio of -33.00 and a beta of 1.47. The stock’s 50 day simple moving average is $14.90 and its 200-day simple moving average is $16.28.
Corsair Gaming (NASDAQ:CRSR – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.24). Corsair Gaming had a positive return on equity of 4.42% and a negative net margin of 2.43%. The business had revenue of $283.90 million during the quarter, compared to analysts’ expectations of $274.81 million. During the same quarter last year, the business posted $0.33 EPS. The company’s quarterly revenue was down 40.0% on a year-over-year basis. As a group, equities analysts predict that Corsair Gaming will post 0.13 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Corsair Gaming
Institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its position in shares of Corsair Gaming by 429.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,509 shares of the company’s stock worth $32,000 after buying an additional 1,224 shares in the last quarter. KBC Group NV purchased a new stake in shares of Corsair Gaming in the second quarter worth $37,000. Rockefeller Capital Management L.P. raised its position in shares of Corsair Gaming by 47.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,971 shares of the company’s stock worth $41,000 after buying an additional 636 shares in the last quarter. Captrust Financial Advisors raised its position in Corsair Gaming by 1,179.2% during the second quarter. Captrust Financial Advisors now owns 5,104 shares of the company’s stock valued at $67,000 after purchasing an additional 4,705 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its position in Corsair Gaming by 17.8% during the second quarter. Mutual of America Capital Management LLC now owns 5,607 shares of the company’s stock valued at $74,000 after purchasing an additional 849 shares in the last quarter. Hedge funds and other institutional investors own 22.91% of the company’s stock.
Corsair Gaming Company Profile
Corsair Gaming, Inc, together with its subsidiaries, designs, markets, and distributes gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers gamer and creator peripherals, including gaming keyboards, mice, headsets, and controllers, as well as capture cards, stream decks, USB microphones, studio accessories, and EpocCam software.
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