Corsair Gaming (NASDAQ:CRSR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Friday, Zacks.com reports.
According to Zacks, “Corsair Gaming, Inc. designs, markets and distributes gaming and streaming peripherals, components and systems principally in the United States and internationally. Corsair Gaming, Inc. is based in Fremont, California. “
Other equities research analysts have also issued reports about the company. Robert W. Baird lowered Corsair Gaming from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $38.00 to $29.00 in a research note on Friday, October 15th. Cowen reduced their price objective on Corsair Gaming from $37.00 to $32.00 and set a “market perform” rating on the stock in a research note on Monday, October 18th. Credit Suisse Group cut their price target on Corsair Gaming from $31.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 15th. DA Davidson dropped their price objective on Corsair Gaming from $47.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, October 26th. Finally, Barclays dropped their price objective on Corsair Gaming from $42.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, November 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Corsair Gaming presently has an average rating of “Hold” and a consensus target price of $38.56.
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Shares of NASDAQ CRSR traded up $0.12 during mid-day trading on Friday, reaching $20.72. The company had a trading volume of 834,165 shares, compared to its average volume of 802,184. Corsair Gaming has a twelve month low of $19.74 and a twelve month high of $49.60. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.49. The stock has a market capitalization of $1.95 billion, a PE ratio of 17.27 and a beta of 2.00. The stock’s 50 day moving average is $22.56 and its 200-day moving average is $26.11.
Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings data on Tuesday, November 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.06). Corsair Gaming had a return on equity of 30.59% and a net margin of 6.12%. The business had revenue of $391.12 million during the quarter, compared to the consensus estimate of $391.20 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. On average, sell-side analysts anticipate that Corsair Gaming will post 1.22 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC raised its holdings in shares of Corsair Gaming by 7.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 7,406 shares of the company’s stock worth $247,000 after acquiring an additional 504 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Corsair Gaming by 6.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 8,987 shares of the company’s stock worth $233,000 after acquiring an additional 555 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Corsair Gaming by 5.4% in the 3rd quarter. Voya Investment Management LLC now owns 10,942 shares of the company’s stock worth $284,000 after buying an additional 560 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Corsair Gaming by 21.4% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 4,830 shares of the company’s stock worth $125,000 after buying an additional 850 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Corsair Gaming by 14.2% during the second quarter. ProShare Advisors LLC now owns 6,977 shares of the company’s stock valued at $232,000 after buying an additional 869 shares during the last quarter. 15.32% of the stock is owned by institutional investors.
About Corsair Gaming
Corsair Gaming, Inc, together with its subsidiaries, designs, markets, and distributes gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers gamer and creator peripherals, including gaming keyboards, mice, headsets, and controllers, as well as capture cards, stream decks, USB microphones, studio accessories, and EpocCam software.
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