Corsair Gaming (NASDAQ:CRSR) Hits New 52-Week Low – What’s Next?

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CRSR. Wall Street Zen downgraded shares of Corsair Gaming from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Craig Hallum set a $10.00 price target on shares of Corsair Gaming in a research note on Wednesday, November 5th. Macquarie decreased their price objective on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Corsair Gaming in a research note on Monday, December 29th. Finally, B. Riley cut their target price on Corsair Gaming from $9.00 to $7.50 and set a “neutral” rating for the company in a research report on Monday, December 22nd. Four equities research 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’s stock. Based on data from MarketBeat.com, Corsair Gaming currently has an average rating of “Hold” and a consensus price target of $9.07.

Corsair Gaming Price Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 1.48. The company’s 50 day moving average price is $6.08 and its 200-day moving average price is $7.71. The company has a market cap of $584.00 million, a price-to-earnings ratio of -16.12 and a beta of 1.53.

Corsair Gaming (NASDAQ:CRSR) last issued its earnings results on Tuesday, November 4th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The business had revenue of $345.76 million for the quarter, compared to the consensus estimate of $354.04 million. Corsair Gaming had a positive return on equity of 3.37% and a negative net margin of 2.46%.The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.29) earnings per share. On average, equities research analysts forecast that Corsair Gaming, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Corsair Gaming

In related news, Director Samuel R. Szteinbaum bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average cost of $6.59 per share, for a total transaction of $659,000.00. Following the acquisition, the director directly owned 420,267 shares of the company’s stock, valued at $2,769,559.53. The trade was a 31.22% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Thi L. La bought 50,000 shares of Corsair Gaming stock in a transaction dated Tuesday, November 25th. The shares were bought at an average cost of $6.10 per share, with a total value of $305,000.00. Following the completion of the acquisition, the chief executive officer owned 480,726 shares of the company’s stock, valued at $2,932,428.60. The trade was a 11.61% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 58.38% of the company’s stock.

Hedge Funds Weigh In On Corsair Gaming

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRSR. Virtus Advisers LLC purchased a new position in Corsair Gaming during the 2nd quarter worth approximately $45,000. Ameritas Investment Partners Inc. boosted its position in shares of Corsair Gaming by 30.7% in 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 during the period. Tower Research Capital LLC TRC boosted its position in shares of Corsair Gaming by 245.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock worth $49,000 after buying an additional 3,681 shares during the period. 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 valued at $74,000 after buying an additional 1,551 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Corsair Gaming by 70.6% during the second quarter. PNC Financial Services Group Inc. now owns 8,632 shares of the company’s stock valued at $81,000 after buying an additional 3,571 shares during the period. Institutional investors and hedge funds 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.