Corsair Gaming, Inc. (NASDAQ:CRSR) Short Interest Update

Corsair Gaming, Inc. (NASDAQ:CRSR) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 11,100,000 shares, a growth of 27.1% from the August 15th total of 8,730,000 shares. Approximately 31.6% of the shares of the company are sold short. Based on an average trading volume of 3,300,000 shares, the short-interest ratio is currently 3.4 days.

In other Corsair Gaming news, CFO Michael G. Potter sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $32.98, for a total transaction of $247,350.00. Following the completion of the sale, the chief financial officer now directly owns 7,500 shares of the company’s stock, valued at approximately $247,350. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 71.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in shares of Corsair Gaming by 57.6% during the first quarter. Bank of New York Mellon Corp now owns 61,383 shares of the company’s stock worth $2,044,000 after buying an additional 22,440 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in Corsair Gaming during the second quarter worth approximately $1,953,000. Nuveen Asset Management LLC grew its stake in Corsair Gaming by 146.0% in the 1st quarter. Nuveen Asset Management LLC now owns 151,734 shares of the company’s stock worth $5,051,000 after acquiring an additional 90,060 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Corsair Gaming by 12.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 9,000 shares of the company’s stock valued at $293,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Corsair Gaming during the 1st quarter worth $277,000. Institutional investors own 12.78% of the company’s stock.

Shares of NASDAQ CRSR traded down $0.41 on Tuesday, hitting $27.12. The company’s stock had a trading volume of 22,489 shares, compared to its average volume of 2,625,369. The stock has a 50 day moving average of $28.45 and a 200-day moving average of $31.26. The company has a market capitalization of $2.54 billion and a price-to-earnings ratio of 17.42. Corsair Gaming has a 12-month low of $14.09 and a 12-month high of $51.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 0.93.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings results on Tuesday, August 3rd. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). Corsair Gaming had a return on equity of 40.73% and a net margin of 7.63%. The company had revenue of $472.90 million for the quarter, compared to analysts’ expectations of $475.16 million. During the same period in the previous year, the business posted $0.37 EPS. The business’s quarterly revenue was up 24.3% on a year-over-year basis. Sell-side analysts expect that Corsair Gaming will post 1.68 EPS for the current fiscal year.

CRSR has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Corsair Gaming from $47.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 4th. Zacks Investment Research downgraded Corsair Gaming from a “hold” rating to a “strong sell” rating in a research note on Monday, August 9th. Robert W. Baird decreased their price target on Corsair Gaming from $48.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 4th. Wedbush reaffirmed a “buy” rating and set a $55.00 price objective on shares of Corsair Gaming in a report on Thursday, July 29th. Finally, Credit Suisse Group downgraded Corsair Gaming from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $43.00 to $31.00 in a report on Wednesday, August 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $41.00.

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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