Corsair Gaming (NASDAQ:CRSR) Sees Large Volume Increase on Analyst Upgrade

Corsair Gaming, Inc. (NASDAQ:CRSR) saw an uptick in trading volume on Thursday after Barclays raised their price target on the stock from $9.00 to $12.00. Barclays currently has an overweight rating on the stock. 1,208,122 shares were traded during mid-day trading, an increase of 20% from the previous session’s volume of 1,003,132 shares.The stock last traded at $11.89 and had previously closed at $9.94.

Other equities research analysts also recently issued reports about the company. TD Cowen cut their price target on Corsair Gaming from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. Robert W. Baird raised their target price on Corsair Gaming from $8.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday. Wedbush reissued an “outperform” rating and set a $12.00 price target (up previously from $10.00) on shares of Corsair Gaming in a report on Wednesday, February 5th. The Goldman Sachs Group decreased their price objective on Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, Macquarie cut their price objective on Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.14.

Hedge Funds Weigh In On Corsair Gaming

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in Corsair Gaming by 995.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,745 shares of the company’s stock worth $33,000 after purchasing an additional 4,312 shares in the last quarter. FMR LLC raised its position in shares of Corsair Gaming by 89.0% during the third quarter. FMR LLC now owns 4,864 shares of the company’s stock valued at $34,000 after buying an additional 2,291 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Corsair Gaming by 220.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,965 shares of the company’s stock worth $33,000 after buying an additional 3,414 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Corsair Gaming during the fourth quarter worth $50,000. Finally, Quadrant Capital Group LLC grew its stake in Corsair Gaming by 45.8% during the fourth quarter. Quadrant Capital Group LLC now owns 8,083 shares of the company’s stock valued at $53,000 after acquiring an additional 2,538 shares in the last quarter. Institutional investors own 25.66% of the company’s stock.

Corsair Gaming Stock Up 25.9 %

The company has a quick ratio of 0.77, a current ratio of 1.58 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $1.31 billion, a PE ratio of -13.90 and a beta of 1.68. The company’s 50 day moving average is $7.95 and its two-hundred day moving average is $7.18.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Corsair Gaming had a negative return on equity of 4.58% and a negative net margin of 7.14%. On average, analysts anticipate that Corsair Gaming, Inc. will post -0.38 earnings per share for the current year.

About Corsair Gaming

Corsair Gaming, Inc, together with its subsidiaries, designs, develops, markets, and sells gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. It offers gamer and creator peripherals, including gaming keyboards, mice, headsets, controllers, and streaming products, such as capture cards, stream decks, microphones and audio interfaces, facecam streaming cameras, studio accessories, gaming furniture, and other related products.