Corsair Gaming (NASDAQ:CRSR) Hits New 12-Month Low – Here’s What Happened

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) reached a new 52-week low during trading on Wednesday . The stock traded as low as $5.34 and last traded at $5.3750, with a volume of 803133 shares traded. The stock had previously closed at $5.43.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CRSR shares. Barclays decreased their price objective on Corsair Gaming from $12.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Macquarie decreased their price target on Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. B. Riley lowered their price target on Corsair Gaming from $9.00 to $7.50 and set a “neutral” rating for the company in a report on Monday, December 22nd. Wall Street Zen downgraded shares of Corsair Gaming from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Finally, Wedbush decreased their target price on shares of Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Corsair Gaming presently has an average rating of “Hold” and an average target price of $9.07.

Corsair Gaming Trading Up 0.9%

The business has a fifty day moving average price of $6.08 and a 200 day moving average price of $7.71. The company has a market capitalization of $584.00 million, a PE ratio of -16.12 and a beta of 1.53. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 1.48.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.02). The firm had revenue of $345.76 million during the quarter, compared to analyst estimates of $354.04 million. Corsair Gaming had a negative net margin of 2.46% and a positive return on equity of 3.37%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.29) earnings per share. Analysts expect that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Thi L. La acquired 50,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were bought at an average cost of $6.10 per share, with a total value of $305,000.00. Following the completion of the transaction, the chief executive officer directly owned 480,726 shares of the company’s stock, valued at $2,932,428.60. This trade represents a 11.61% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Samuel R. Szteinbaum acquired 100,000 shares of Corsair Gaming stock in a transaction on Friday, November 7th. The shares were bought at an average price of $6.59 per share, for a total transaction of $659,000.00. Following the purchase, the director owned 420,267 shares of the company’s stock, valued at $2,769,559.53. This represents a 31.22% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 58.38% of the company’s stock.

Institutional Investors Weigh In On Corsair Gaming

Several hedge funds have recently modified their holdings of CRSR. Los Angeles Capital Management LLC acquired a new stake in Corsair Gaming during the 2nd quarter valued at approximately $560,000. Dynamic Technology Lab Private Ltd bought a new stake in Corsair Gaming during the second quarter valued at $460,000. Counterpoint Mutual Funds LLC acquired a new stake in Corsair Gaming during the second quarter worth about $317,000. Vontobel Holding Ltd. raised its position in shares of Corsair Gaming by 3.2% during the 2nd quarter. Vontobel Holding Ltd. now owns 45,322 shares of the company’s stock worth $427,000 after purchasing an additional 1,390 shares during the period. Finally, Versor Investments LP increased its position in Corsair Gaming by 105.5% in the second quarter. Versor Investments LP now owns 79,100 shares of the company’s stock worth $746,000 after buying an additional 40,600 shares during the period. 25.66% of the stock is currently owned by hedge funds and other institutional investors.

About Corsair Gaming

Corsair Gaming, Inc, headquartered in Fremont, California, is a leading manufacturer of high-performance gaming peripherals and PC components. Since its founding in 1994 by Andy Paul, Don Lieberman and John Beekley as Corsair Microsystems, the company has evolved from producing memory modules to a broad portfolio of gaming hardware. Its product range includes gaming keyboards, mice, headsets, PC chassis, power supplies, cooling solutions, memory modules, solid-state drives and streaming accessories under brands such as Corsair, Elgato and SCUF Gaming.

The company’s solutions cater to PC enthusiasts, competitive gamers and content creators, offering hardware and integrated software designed to optimize performance and user experience.