Wedbush Cuts Corsair Gaming (NASDAQ:CRSR) Price Target to $7.00

Corsair Gaming (NASDAQ:CRSR) had its price target reduced by Wedbush from $9.00 to $7.00 in a research note released on Friday, Marketbeat.com reports. They currently have an outperform rating on the stock.

Several other research firms have also issued reports on CRSR. Barclays reduced their price target on Corsair Gaming from $12.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Corsair Gaming in a research report on Monday, December 29th. Wall Street Zen cut Corsair Gaming from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Macquarie Infrastructure reduced their price objective on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Finally, B. Riley Financial lowered their target price on shares of Corsair Gaming from $9.00 to $7.50 and set a “neutral” rating for the company in a research note on Monday, December 22nd. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.79.

Corsair Gaming Price Performance

Shares of CRSR stock opened at $5.17 on Friday. Corsair Gaming has a 52-week low of $4.59 and a 52-week high of $13.02. The stock has a market cap of $550.99 million, a PE ratio of -15.21 and a beta of 1.55. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 1.48. The firm’s 50 day moving average price is $5.87 and its two-hundred day moving average price is $7.31.

Insider Transactions at Corsair Gaming

In related news, CEO Thi L. La bought 50,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were purchased at an average cost of $6.10 per share, for a total transaction of $305,000.00. Following the acquisition, the chief executive officer owned 480,726 shares of the company’s stock, valued at approximately $2,932,428.60. This represents a 11.61% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 58.38% of the company’s stock.

Institutional Investors Weigh In On Corsair Gaming

Several large investors have recently made changes to their positions in the stock. Virtus Advisers LLC bought a new stake in Corsair Gaming in the 2nd quarter valued at $45,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Corsair Gaming by 30.7% in the second quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock valued at $45,000 after purchasing an additional 1,120 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Corsair Gaming by 245.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock valued at $49,000 after purchasing an additional 3,681 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Corsair Gaming by 24.7% during the second quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock worth $74,000 after buying an additional 1,551 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Corsair Gaming by 70.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,632 shares of the company’s stock valued at $81,000 after buying an additional 3,571 shares during the last quarter. Institutional investors own 25.66% of the company’s stock.

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.