Corsair Gaming (NASDAQ:CRSR) Shares Down 10.6% – Should You Sell?

Corsair Gaming, Inc. (NASDAQ:CRSR) shares dropped 10.6% during mid-day trading on Tuesday . The company traded as low as $6.11 and last traded at $6.0720. Approximately 1,696,420 shares traded hands during trading, a decline of 39% from the average daily volume of 2,803,988 shares. The stock had previously closed at $6.79.

Analyst Upgrades and Downgrades

CRSR has been the subject of a number of research reports. Macquarie Infrastructure reduced their target price 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. Robert W. Baird set a $6.00 price objective on Corsair Gaming in a research report on Friday, February 13th. Wall Street Zen raised Corsair Gaming from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Barclays reduced their price target on shares of Corsair Gaming from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Corsair Gaming in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $7.71.

Corsair Gaming Price Performance

The company has a 50-day moving average of $5.68 and a two-hundred day moving average of $7.12. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.54 and a quick ratio of 0.84. The stock has a market capitalization of $594.66 million, a PE ratio of -42.92 and a beta of 1.55.

Corsair Gaming (NASDAQ:CRSR) last released its earnings results on Thursday, February 12th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.17. The firm had revenue of $436.86 million during the quarter, compared to the consensus estimate of $422.66 million. Corsair Gaming had a negative net margin of 0.87% and a positive return on equity of 6.71%. Corsair Gaming’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 earnings per share. Sell-side analysts predict that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling at Corsair Gaming

In other news, CEO Thi L. La bought 50,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was acquired at an average price of $6.10 per share, for a total transaction of $305,000.00. Following the acquisition, the chief executive officer owned 480,726 shares of the company’s stock, valued at $2,932,428.60. This trade represents a 11.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 58.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Corsair Gaming

Several large investors have recently made changes to their positions in the business. Invesco Ltd. lifted its holdings in shares of Corsair Gaming by 144.4% during the 4th quarter. Invesco Ltd. now owns 1,330,581 shares of the company’s stock valued at $7,904,000 after acquiring an additional 786,049 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Corsair Gaming during the fourth quarter worth about $62,000. Millennium Management LLC boosted its position in shares of Corsair Gaming by 506.2% in the fourth quarter. Millennium Management LLC now owns 635,798 shares of the company’s stock worth $3,777,000 after buying an additional 530,914 shares during the period. Investor AB acquired a new stake in shares of Corsair Gaming in the fourth quarter valued at about $741,000. Finally, Engineers Gate Manager LP raised its holdings in shares of Corsair Gaming by 74.7% during the 4th quarter. Engineers Gate Manager LP now owns 72,986 shares of the company’s stock valued at $434,000 after buying an additional 31,205 shares during the period. Institutional investors and hedge funds own 25.66% of the company’s stock.

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.