Corsair Gaming (NASDAQ:CRSR) Hits New 1-Year Low – Here’s Why

Corsair Gaming, Inc. (NASDAQ:CRSR)’s stock price hit a new 52-week low on Monday . The company traded as low as $4.98 and last traded at $5.14, with a volume of 6926 shares trading hands. The stock had previously closed at $5.10.

Analyst Ratings Changes

Several analysts have recently weighed in on CRSR shares. Craig Hallum set a $10.00 price objective on shares of Corsair Gaming in a report on Wednesday, November 5th. 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. Macquarie lowered their price objective on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Wedbush reduced their target price on shares of Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Finally, B. Riley dropped their price objective on Corsair Gaming from $9.00 to $7.50 and set a “neutral” rating for the company in a report on Monday, December 22nd. Four research 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 stock has a consensus rating of “Hold” and a consensus target price of $9.07.

Corsair Gaming Stock Up 3.2%

The firm’s 50-day moving average is $5.99 and its 200 day moving average is $7.47. The firm has a market capitalization of $561.09 million, a P/E ratio of -15.48 and a beta of 1.55. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 1.48.

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). Corsair Gaming had a negative net margin of 2.46% and a positive return on equity of 3.37%. The firm had revenue of $345.76 million during the quarter, compared to the consensus estimate of $354.04 million. During the same quarter last year, the firm earned ($0.29) earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, equities research analysts predict that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.

Insider Transactions at Corsair Gaming

In related news, Director Samuel R. Szteinbaum bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average price of $6.59 per share, for a total transaction of $659,000.00. Following the completion of the acquisition, the director owned 420,267 shares of the company’s stock, 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 can be accessed through the SEC website. Also, CEO Thi L. La purchased 50,000 shares of the firm’s stock in a transaction on 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 purchase, the chief executive officer owned 480,726 shares of the company’s stock, valued at approximately $2,932,428.60. This represents a 11.61% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 58.38% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Corsair Gaming

Several institutional investors and hedge funds have recently modified their holdings of the stock. Virtus Advisers LLC bought a new position in shares of Corsair Gaming during the second quarter worth approximately $45,000. Ameritas Investment Partners Inc. lifted 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 purchasing an additional 1,120 shares during the period. Tower Research Capital LLC TRC increased its holdings 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 valued at $49,000 after buying an additional 3,681 shares during the period. BNP Paribas Financial Markets raised its position 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 valued at $74,000 after buying an additional 1,551 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Corsair Gaming by 70.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,632 shares of the company’s stock worth $81,000 after acquiring an additional 3,571 shares during the period. 25.66% of the stock is currently owned by institutional investors and hedge funds.

Corsair Gaming Company Profile

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.