Corsair Gaming (NASDAQ:CRSR) Sees Unusually-High Trading Volume Following Analyst Upgrade

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) saw unusually-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. Approximately 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.

A number of other research analysts have also commented on CRSR. Macquarie cut their price target on Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 8th. The Goldman Sachs Group reduced their price target 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. Robert W. Baird increased their price objective on shares of Corsair Gaming from $8.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday. Wedbush reiterated an “outperform” rating and issued a $12.00 price objective (up from $10.00) on shares of Corsair Gaming in a research note on Wednesday, February 5th. Finally, TD Cowen cut their target price on Corsair Gaming from $10.00 to $9.00 and set a “hold” 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. Based on data from MarketBeat.com, Corsair Gaming currently has an average rating of “Moderate Buy” and a consensus price target of $10.14.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in Corsair Gaming by 41.5% in the fourth quarter. GAMMA Investing LLC now owns 6,716 shares of the company’s stock worth $44,000 after purchasing an additional 1,971 shares in the last quarter. FMR LLC lifted its holdings in Corsair Gaming by 89.0% during the 3rd quarter. FMR LLC now owns 4,864 shares of the company’s stock worth $34,000 after buying an additional 2,291 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Corsair Gaming by 45.8% in the 4th quarter. Quadrant Capital Group LLC now owns 8,083 shares of the company’s stock valued at $53,000 after buying an additional 2,538 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Corsair Gaming by 7.5% during the third quarter. JPMorgan Chase & Co. now owns 39,429 shares of the company’s stock worth $274,000 after acquiring an additional 2,756 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Corsair Gaming by 220.1% during the fourth 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. 25.66% of the stock is owned by institutional investors and hedge funds.

Corsair Gaming Stock Performance

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 firm has a market cap of $1.25 billion, a P/E ratio of -13.30 and a beta of 1.68. The firm has a fifty day moving average of $7.95 and a 200-day moving average of $7.18.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.16 earnings per share 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 predict that Corsair Gaming, Inc. will post -0.38 earnings per share for the current fiscal 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.