Corsair Gaming (NASDAQ:CRSR) Sets New 12-Month Low at $5.59

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) hit a new 52-week low during trading on Wednesday . The company traded as low as $5.59 and last traded at $5.63, with a volume of 115427 shares trading hands. The stock had previously closed at $5.71.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Robert W. Baird lowered their price objective on Corsair Gaming from $14.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. The Goldman Sachs Group dropped their price target on shares of Corsair Gaming from $13.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Stifel Nicolaus decreased their price objective on Corsair Gaming from $16.00 to $11.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Barclays lowered their target price on Corsair Gaming from $17.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Wedbush decreased their price target on Corsair Gaming from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.00.

Corsair Gaming Stock Up 0.3 %

The company has a quick ratio of 0.97, a current ratio of 1.80 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $7.50 and a 200 day moving average of $10.17. The firm has a market cap of $607.19 million, a price-to-earnings ratio of -72.88 and a beta of 1.58.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.12). The company had revenue of $261.30 million during the quarter, compared to the consensus estimate of $290.30 million. Corsair Gaming had a negative net margin of 2.83% and a positive return on equity of 2.17%. The business’s revenue was down 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 EPS. As a group, sell-side analysts predict that Corsair Gaming, Inc. will post 0.07 earnings per share for the current year.

Institutional Investors Weigh In On Corsair Gaming

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Corsair Gaming by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 5,485,063 shares of the company’s stock worth $67,686,000 after buying an additional 64,373 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Corsair Gaming by 7.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,180,426 shares of the company’s stock valued at $24,072,000 after purchasing an additional 153,036 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Corsair Gaming by 23.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,633,973 shares of the company’s stock worth $23,040,000 after acquiring an additional 305,602 shares during the last quarter. Palisade Capital Management LP raised its stake in shares of Corsair Gaming by 19.2% in the fourth quarter. Palisade Capital Management LP now owns 1,429,110 shares of the company’s stock worth $20,150,000 after purchasing an additional 230,390 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Corsair Gaming by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,252,737 shares of the company’s stock worth $13,830,000 after buying an additional 41,832 shares during the last quarter. 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.