Corsair Gaming (NASDAQ:CRSR) Trading 6.2% Higher – Still a Buy?

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) rose 6.2% during mid-day trading on Wednesday . The company traded as high as $9.29 and last traded at $9.28. Approximately 237,605 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 693,564 shares. The stock had previously closed at $8.74.

Analyst Ratings Changes

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

Corsair Gaming Stock Performance

The business’s fifty day moving average price is $7.36 and its two-hundred day moving average price is $7.19. 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 has a market capitalization of $959.05 million, a P/E ratio of -10.18 and a beta of 1.63.

Institutional Trading of Corsair Gaming

Several hedge funds and other institutional investors have recently bought and sold shares of CRSR. Massachusetts Financial Services Co. MA raised its holdings in shares of Corsair Gaming by 85.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,037,958 shares of the company’s stock worth $28,104,000 after buying an additional 1,857,532 shares during the period. State Street Corp boosted its stake in shares of Corsair Gaming by 0.8% during the third quarter. State Street Corp now owns 1,631,501 shares of the company’s stock valued at $11,355,000 after purchasing an additional 12,373 shares in the last quarter. Renaissance Technologies LLC boosted its position in Corsair Gaming by 12.2% during the second quarter. Renaissance Technologies LLC now owns 418,033 shares of the company’s stock valued at $4,615,000 after purchasing an additional 45,400 shares in the last quarter. Stifel Financial Corp raised its holdings in Corsair Gaming by 39.6% in the third quarter. Stifel Financial Corp now owns 214,564 shares of the company’s stock worth $1,493,000 after purchasing an additional 60,811 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Corsair Gaming during the 3rd quarter worth approximately $1,094,000. Hedge funds and other institutional investors own 25.66% of the company’s stock.

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.