Corsair Gaming, Inc. (NASDAQ:CRSR) Short Interest Update

Corsair Gaming, Inc. (NASDAQ:CRSR) was the recipient of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 4,210,000 shares, a growth of 18.6% from the January 15th total of 3,550,000 shares. Approximately 9.4% of the company’s shares are short sold. Based on an average daily volume of 737,100 shares, the short-interest ratio is currently 5.7 days.

Corsair Gaming Stock Down 0.7 %

Corsair Gaming stock opened at $12.42 on Monday. The company has a market capitalization of $1.30 billion, a P/E ratio of -13.80 and a beta of 1.68. The firm’s fifty day simple moving average is $8.15 and its 200-day simple moving average is $7.23. The company has a current ratio of 1.58, a quick ratio of 0.77 and a debt-to-equity ratio of 0.28. Corsair Gaming has a 1-year low of $5.59 and a 1-year high of $14.13.

Corsair Gaming (NASDAQ:CRSR) last posted its earnings results on Wednesday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. Corsair Gaming had a negative net margin of 7.14% and a negative return on equity of 4.58%. Sell-side analysts forecast that Corsair Gaming will post -0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Corsair Gaming by 995.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,745 shares of the company’s stock valued at $33,000 after buying an additional 4,312 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Corsair Gaming by 220.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,965 shares of the company’s stock valued at $33,000 after buying an additional 3,414 shares during the last quarter. FMR LLC grew its stake in 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 buying an additional 2,291 shares during the last quarter. Quarry LP acquired a new stake in Corsair Gaming in the 4th quarter worth $34,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Corsair Gaming in the 4th quarter worth $50,000. 25.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays increased their target price on shares of Corsair Gaming from $9.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday. Robert W. Baird increased their target price on shares of Corsair Gaming from $8.00 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday. TD Cowen cut their target price on shares of Corsair Gaming from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. Wedbush reiterated an “outperform” rating and issued a $12.00 target price (up previously from $10.00) on shares of Corsair Gaming in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group cut their target price on shares of Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.14.

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.