Short Interest in Corsair Gaming, Inc. (NASDAQ:CRSR) Rises By 5.5%

Corsair Gaming, Inc. (NASDAQ:CRSR) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 3,440,000 shares, a growth of 5.5% from the October 31st total of 3,260,000 shares. Currently, 7.7% of the shares of the company are short sold. Based on an average daily volume of 489,300 shares, the days-to-cover ratio is presently 7.0 days.

Institutional Investors Weigh In On Corsair Gaming

Large investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its stake in Corsair Gaming by 85.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,037,958 shares of the company’s stock valued at $28,104,000 after purchasing an additional 1,857,532 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Corsair Gaming in the 3rd quarter worth about $1,094,000. Main Management ETF Advisors LLC purchased a new stake in shares of Corsair Gaming in the third quarter worth approximately $735,000. Creative Planning grew its position in Corsair Gaming by 579.2% during the third quarter. Creative Planning now owns 82,182 shares of the company’s stock valued at $572,000 after purchasing an additional 70,083 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in Corsair Gaming in the 3rd quarter valued at approximately $462,000. Institutional investors and hedge funds own 25.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CRSR shares. Robert W. Baird decreased their price objective on Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Macquarie reduced their price objective on shares of Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 8th. TD Cowen dropped their price target on shares of Corsair Gaming from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. The Goldman Sachs Group decreased their price objective on shares of Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, 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 report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Corsair Gaming currently has an average rating of “Moderate Buy” and an average price target of $9.14.

Corsair Gaming Trading Up 2.9 %

Shares of NASDAQ CRSR traded up $0.23 during mid-day trading on Wednesday, hitting $8.07. 89,486 shares of the company traded hands, compared to its average volume of 454,035. The business has a 50 day moving average of $6.89 and a two-hundred day moving average of $8.11. 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 stock has a market capitalization of $844.93 million, a price-to-earnings ratio of -8.71 and a beta of 1.62. Corsair Gaming has a 1 year low of $5.59 and a 1 year high of $15.07.

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.