Corsair Gaming (NASDAQ:CRSR) Sees Strong Trading Volume on Analyst Upgrade

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) saw strong 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 changed hands during 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 analysts have also recently issued reports about the company. Robert W. Baird raised their price objective on Corsair Gaming from $8.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday. The Goldman Sachs Group decreased their price objective on shares of Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Wedbush restated an “outperform” rating and set a $12.00 target price (up previously from $10.00) on shares of Corsair Gaming in a research note on Wednesday, February 5th. TD Cowen lowered their price target on shares of Corsair Gaming from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. Finally, Macquarie decreased their target price on Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.14.

Institutional Inflows and Outflows

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

Corsair Gaming Stock Up 20.4 %

The stock has a 50-day moving average of $7.95 and a 200 day moving average of $7.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.58 and a quick ratio of 0.77. The company has a market cap of $1.25 billion, a P/E ratio of -13.30 and a beta of 1.68.

Corsair Gaming (NASDAQ:CRSR) last issued its earnings results on Wednesday, February 12th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Corsair Gaming had a negative net margin of 7.14% and a negative return on equity of 4.58%. Research 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.