Corsair Gaming (NASDAQ:CRSR) Hits New 1-Year Low at $10.30

Corsair Gaming, Inc. (NASDAQ:CRSR) shares reached a new 52-week low on Tuesday . The company traded as low as $10.30 and last traded at $10.32, with a volume of 372441 shares changing hands. The stock had previously closed at $10.48.

Analysts Set New Price Targets

Separately, Wedbush reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of Corsair Gaming in a report on Wednesday, May 8th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.83.

Corsair Gaming Stock Up 0.5 %

The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -129.63 and a beta of 1.59. The business’s 50-day moving average is $11.22 and its two-hundred day moving average is $12.30. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). The business had revenue of $337.26 million for the quarter, compared to analyst estimates of $364.15 million. Corsair Gaming had a positive return on equity of 4.70% and a negative net margin of 0.58%. Equities analysts anticipate that Corsair Gaming, Inc. will post 0.44 EPS for the current year.

Institutional Investors Weigh In On Corsair Gaming

A number of institutional investors and hedge funds have recently made changes to their positions in CRSR. Massachusetts Financial Services Co. MA increased its stake in Corsair Gaming by 94.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,395,985 shares of the company’s stock worth $19,683,000 after buying an additional 678,017 shares during the period. Dimensional Fund Advisors LP increased its stake in Corsair Gaming by 23.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,633,973 shares of the company’s stock worth $23,040,000 after buying an additional 305,602 shares during the period. Palisade Capital Management LP increased its stake in Corsair Gaming by 19.2% during the 4th quarter. Palisade Capital Management LP now owns 1,429,110 shares of the company’s stock worth $20,150,000 after buying an additional 230,390 shares during the period. Vanguard Group Inc. increased its stake in Corsair Gaming by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,429,071 shares of the company’s stock worth $78,884,000 after buying an additional 149,947 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Corsair Gaming during the 1st quarter worth approximately $1,318,000. 25.66% of the stock is owned by hedge funds and other institutional investors.

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.