Corsair Gaming (NASDAQ:CRSR) Stock Price Up 5.7% – Here’s Why

Corsair Gaming, Inc. (NASDAQ:CRSR)’s share price traded up 5.7% during trading on Wednesday . The company traded as high as $9.39 and last traded at $9.39. 453,450 shares changed hands during trading, a decline of 48% from the average session volume of 875,897 shares. The stock had previously closed at $8.88.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Macquarie dropped their price target on shares of Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Barclays cut their target price on Corsair Gaming from $14.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. TD Cowen reduced their price target on Corsair Gaming from $10.00 to $9.00 and set a “hold” rating for the company in a report on Thursday, November 7th. The Goldman Sachs Group dropped their price objective on Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Finally, Wedbush reissued an “outperform” rating and issued a $11.00 target price on shares of Corsair Gaming in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.14.

Corsair Gaming Stock Up 5.2 %

The firm’s fifty day simple moving average is $7.50 and its 200-day simple moving average is $7.13. The company has a market cap of $977.90 million, a PE ratio of -10.38 and a beta of 1.63. The company has a quick ratio of 0.77, a current ratio of 1.58 and a debt-to-equity ratio of 0.28.

Hedge Funds Weigh In On Corsair Gaming

Several hedge funds have recently bought and sold shares of CRSR. Massachusetts Financial Services Co. MA boosted its stake in shares of Corsair Gaming by 85.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,037,958 shares of the company’s stock valued at $28,104,000 after acquiring an additional 1,857,532 shares during the last quarter. State Street Corp boosted its stake in shares of Corsair Gaming by 0.8% during the 3rd quarter. State Street Corp now owns 1,631,501 shares of the company’s stock worth $11,355,000 after purchasing an additional 12,373 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Corsair Gaming by 39.6% during the third quarter. Stifel Financial Corp now owns 214,564 shares of the company’s stock worth $1,493,000 after buying an additional 60,811 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Corsair Gaming during the third quarter worth about $1,094,000. Finally, Landscape Capital Management L.L.C. lifted its stake in shares of Corsair Gaming by 51.3% during the third quarter. Landscape Capital Management L.L.C. now owns 129,306 shares of the company’s stock valued at $900,000 after buying an additional 43,837 shares during the period. Hedge funds and other institutional investors own 25.66% of the company’s stock.

Corsair Gaming Company Profile

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.