Corsair Gaming (NASDAQ:CRSR) Shares Down 7.3% – Time to Sell?

Corsair Gaming, Inc. (NASDAQ:CRSR) shares fell 7.3% during trading on Thursday . The stock traded as low as $10.09 and last traded at $10.07. 478,545 shares were traded during trading, a decline of 59% from the average session volume of 1,166,075 shares. The stock had previously closed at $10.86.

Wall Street Analysts Forecast Growth

CRSR has been the subject of several recent analyst reports. Wedbush restated an “outperform” rating and issued a $12.00 price target (up previously from $10.00) on shares of Corsair Gaming in a research note on Wednesday, February 5th. Robert W. Baird lifted their price target on shares of Corsair Gaming from $8.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Barclays boosted their price objective on shares of Corsair Gaming from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Corsair Gaming currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.14.

Corsair Gaming Stock Down 8.2 %

The company’s 50-day simple moving average is $9.82 and its two-hundred day simple moving average is $7.86. The firm has a market capitalization of $1.05 billion, a P/E ratio of -10.49 and a beta of 1.60. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.57 and a quick ratio of 0.92.

Corsair Gaming (NASDAQ:CRSR) last released its earnings results on Wednesday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Corsair Gaming had a negative net margin of 7.53% and a negative return on equity of 4.62%. As a group, research analysts expect that Corsair Gaming, Inc. will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Corsair Gaming

A number of hedge funds have recently made changes to their positions in CRSR. Quest Partners LLC bought a new position in Corsair Gaming in the 3rd quarter worth approximately $462,000. Intech Investment Management LLC bought a new position in shares of Corsair Gaming during the third quarter worth $77,000. Landscape Capital Management L.L.C. grew its stake in 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 acquiring an additional 43,837 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Corsair Gaming by 85.2% in 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 acquiring an additional 1,857,532 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Corsair Gaming in the 3rd quarter worth $239,000. 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.