Stock Traders Buy Large Volume of Call Options on Corsair Gaming (NASDAQ:CRSR)

Corsair Gaming, Inc. (NASDAQ:CRSR) was the recipient of unusually large options trading on Wednesday. Stock traders bought 7,200 call options on the stock. This represents an increase of approximately 321% compared to the average volume of 1,712 call options.

Institutional Investors Weigh In On Corsair Gaming

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRSR. Bank of America Corp DE boosted its holdings in shares of Corsair Gaming by 149.5% during the 1st quarter. Bank of America Corp DE now owns 230,700 shares of the company’s stock valued at $1,280,000 after buying an additional 138,242 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Corsair Gaming by 160.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 123,537 shares of the company’s stock valued at $686,000 after acquiring an additional 76,054 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Corsair Gaming in the 1st quarter worth $56,000. First Trust Advisors LP bought a new stake in Corsair Gaming in the 1st quarter worth approximately $606,000. Finally, Principal Financial Group Inc. raised its stake in Corsair Gaming by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 228,159 shares of the company’s stock valued at $1,266,000 after buying an additional 4,735 shares during the last quarter. 25.66% of the stock is owned by hedge funds and other institutional investors.

Corsair Gaming Trading Up 10.9%

NASDAQ:CRSR traded up $0.88 during mid-day trading on Wednesday, reaching $8.97. 1,589,348 shares of the company’s stock traded hands, compared to its average volume of 1,878,159. The company has a 50 day moving average price of $6.36 and a 200-day moving average price of $6.03. The firm has a market capitalization of $958.84 million, a price-to-earnings ratio of 112.41 and a beta of 1.59. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.74 and a quick ratio of 0.95. Corsair Gaming has a 12-month low of $4.48 and a 12-month high of $10.29.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.09. Corsair Gaming had a return on equity of 9.71% and a net margin of 0.71%.The business had revenue of $354.51 million during the quarter, compared to analysts’ expectations of $351.58 million. During the same quarter last year, the business posted $0.11 EPS. The business’s revenue was down 4.1% on a year-over-year basis. On average, sell-side analysts predict that Corsair Gaming will post 0.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CRSR shares. B. Riley Financial raised their price target on Corsair Gaming from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Robert W. Baird set a $6.00 price objective on Corsair Gaming in a research note on Friday, February 13th. Wedbush raised their target price on shares of Corsair Gaming from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Craig Hallum lifted their target price on shares of Corsair Gaming from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Zacks Research lowered shares of Corsair Gaming from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.33.

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.