Corsair Gaming (NASDAQ:CRSR) Sees Large Volume Increase – Here’s What Happened

Corsair Gaming, Inc. (NASDAQ:CRSR) saw unusually-strong trading volume on Friday . Approximately 3,274,916 shares traded hands during trading, an increase of 48% from the previous session’s volume of 2,210,510 shares.The stock last traded at $11.8110 and had previously closed at $11.95.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CRSR shares. Barclays lifted their target price on shares of Corsair Gaming from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Zacks Research lowered shares of Corsair Gaming from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. Wall Street Zen lowered shares of Corsair Gaming from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. B. Riley Financial boosted their price objective on shares of Corsair Gaming from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. Finally, Craig Hallum boosted their price objective on shares of Corsair Gaming from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Corsair Gaming currently has a consensus rating of “Hold” and an average target price of $8.33.

Corsair Gaming Stock Performance

The firm has a market capitalization of $1.30 billion, a PE ratio of 151.77 and a beta of 1.59. The company has a current ratio of 1.74, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18. The business’s 50 day simple moving average is $6.72 and its two-hundred day simple moving average is $6.14.

Corsair Gaming (NASDAQ:CRSR) last announced its earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The business had revenue of $354.51 million during the quarter, compared to analyst estimates of $351.58 million. Corsair Gaming had a net margin of 0.71% and a return on equity of 9.71%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 EPS. Research analysts expect that Corsair Gaming, Inc. will post 0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corsair Gaming

A number of hedge funds have recently added to or reduced their stakes in CRSR. Invesco Ltd. raised its stake in Corsair Gaming by 144.4% during the 4th quarter. Invesco Ltd. now owns 1,330,581 shares of the company’s stock valued at $7,904,000 after buying an additional 786,049 shares during the last quarter. Millennium Management LLC raised its stake in Corsair Gaming by 506.2% during the 4th quarter. Millennium Management LLC now owns 635,798 shares of the company’s stock valued at $3,777,000 after buying an additional 530,914 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Corsair Gaming during the 3rd quarter valued at $3,877,000. Massachusetts Financial Services Co. MA raised its stake in Corsair Gaming by 15.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock valued at $18,075,000 after buying an additional 401,171 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its stake in Corsair Gaming by 128.9% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 625,000 shares of the company’s stock valued at $5,575,000 after buying an additional 352,000 shares during the last quarter. 25.66% of the stock is currently owned by hedge funds and other institutional investors.

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.