Short Interest in Corsair Gaming, Inc. (NASDAQ:CRSR) Drops By 6.6%

Corsair Gaming, Inc. (NASDAQ:CRSR) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 3,260,000 shares, a decline of 6.6% from the October 15th total of 3,490,000 shares. Based on an average trading volume of 506,800 shares, the short-interest ratio is presently 6.4 days. Approximately 7.3% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CRSR shares. The Goldman Sachs Group dropped their target price on Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Wedbush reiterated an “outperform” rating and set a $11.00 target price on shares of Corsair Gaming in a research report on Tuesday, November 5th. TD Cowen reduced their target price on shares of Corsair Gaming from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. Robert W. Baird dropped their price target on shares of Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. Finally, Macquarie reduced their price objective on shares of Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.14.

Corsair Gaming Price Performance

Shares of NASDAQ CRSR opened at $6.59 on Wednesday. The company has a market capitalization of $689.97 million, a PE ratio of -7.32 and a beta of 1.59. The company has a quick ratio of 0.77, a current ratio of 1.58 and a debt-to-equity ratio of 0.28. Corsair Gaming has a twelve month low of $5.59 and a twelve month high of $15.07. The firm has a fifty day simple moving average of $6.68 and a 200 day simple moving average of $8.38.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in Corsair Gaming by 995.8% in the third quarter. GAMMA Investing LLC now owns 4,745 shares of the company’s stock worth $33,000 after purchasing an additional 4,312 shares in the last quarter. FMR LLC increased its stake in shares of Corsair Gaming by 89.0% in the 3rd quarter. FMR LLC now owns 4,864 shares of the company’s stock valued at $34,000 after acquiring an additional 2,291 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Corsair Gaming during the 2nd quarter valued at $121,000. Intech Investment Management LLC bought a new position in Corsair Gaming during the third quarter worth $77,000. Finally, Virtu Financial LLC acquired a new stake in Corsair Gaming in the first quarter worth $162,000. 25.66% of the stock is owned by institutional investors.

Corsair Gaming Company Profile

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.