Corsair Gaming (NASDAQ:CRSR) Shares Up 5.7% – Time to Buy?

Corsair Gaming, Inc. (NASDAQ:CRSR) shot up 5.7% during trading on Wednesday . The stock traded as high as $9.39 and last traded at $9.39. 453,450 shares were traded during trading, a decline of 48% from the average session volume of 875,897 shares. The stock had previously closed at $8.88.

Wall Street Analyst Weigh In

CRSR has been the topic of several research analyst reports. Macquarie dropped their target price on shares of Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Barclays dropped their target price on shares of Corsair Gaming from $14.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. The Goldman Sachs Group dropped their target price on shares of Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Wedbush reissued an “outperform” rating and set a $11.00 target price on shares of Corsair Gaming in a research report on Tuesday, November 5th. Finally, TD Cowen dropped their price objective on shares of Corsair Gaming from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.14.

Corsair Gaming Stock Performance

The company has a market capitalization of $959.05 million, a PE ratio of -10.18 and a beta of 1.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 1.58. The stock’s fifty day simple moving average is $7.59 and its 200-day simple moving average is $7.16.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Sei Investments Co. purchased a new position in Corsair Gaming in the second quarter valued at approximately $496,000. Public Sector Pension Investment Board raised its holdings in Corsair Gaming by 7.0% in the second quarter. Public Sector Pension Investment Board now owns 96,014 shares of the company’s stock valued at $1,060,000 after buying an additional 6,262 shares during the period. Squarepoint Ops LLC acquired a new stake in Corsair Gaming in the second quarter valued at approximately $121,000. The Manufacturers Life Insurance Company grew its position in Corsair Gaming by 18.7% in the second quarter. The Manufacturers Life Insurance Company now owns 24,759 shares of the company’s stock valued at $273,000 after acquiring an additional 3,906 shares in the last quarter. Finally, Algert Global LLC grew its position in Corsair Gaming by 10.6% in the second quarter. Algert Global LLC now owns 128,279 shares of the company’s stock valued at $1,416,000 after acquiring an additional 12,297 shares in the last quarter. 25.66% of the stock is currently 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.