Corsair Gaming (NASDAQ:CRSR) Shares Gap Down – Here’s Why

by · The Markets Daily

Corsair Gaming, Inc. (NASDAQ:CRSR – Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $12.14, but opened at $10.33. Corsair Gaming shares last traded at $10.7740, with a volume of 2,481,229 shares.

Analyst Ratings Changes

CRSR has been the topic of several recent analyst reports. Wedbush lifted their price target on Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Wall Street Zen lowered Corsair Gaming from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Craig Hallum reiterated a “hold” rating and issued a $10.00 target price on shares of Corsair Gaming in a research report on Monday. B. Riley Financial boosted their target price on Corsair Gaming from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. Finally, Robert W. Baird set a $6.00 target price on shares of Corsair Gaming in a report on Friday, February 13th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.33.

Get Our Latest Analysis on CRSR

Corsair Gaming Stock Down 10.3%

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 company has a market capitalization of $1.16 billion, a P/E ratio of 136.38 and a beta of 1.82. The stock has a 50 day moving average price of $6.72 and a 200 day moving average price of $6.13.

Corsair Gaming (NASDAQ:CRSR – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Corsair Gaming had a return on equity of 9.71% and a net margin of 0.71%.The business had revenue of $354.51 million for the quarter, compared to analyst estimates of $351.58 million. During the same quarter in the previous year, the company posted $0.11 EPS. Corsair Gaming’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, research analysts anticipate that Corsair Gaming, Inc. will post 0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in Corsair Gaming by 428.8% in the 1st quarter. AQR Capital Management LLC now owns 92,778 shares of the company’s stock valued at $822,000 after buying an additional 75,232 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Corsair Gaming by 12.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,538 shares of the company’s stock worth $846,000 after acquiring an additional 10,620 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Corsair Gaming by 83.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 449,779 shares of the company’s stock valued at $3,985,000 after acquiring an additional 204,351 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Corsair Gaming by 15.8% during the second quarter. JPMorgan Chase & Co. now owns 25,289 shares of the company’s stock valued at $238,000 after acquiring an additional 3,454 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Corsair Gaming by 1.3% during the second quarter. Legal & General Group Plc now owns 122,484 shares of the company’s stock valued at $1,155,000 after acquiring an additional 1,592 shares during the last quarter. Institutional investors and hedge funds own 25.66% of the company’s stock.

Corsair Gaming Company Profile

(Get Free Report)

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.

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