Corsair Gaming (NASDAQ:CRSR) Trading 5.7% Higher – Still a Buy?

Corsair Gaming, Inc. (NASDAQ:CRSR)’s share price rose 5.7% during trading on Wednesday . The company traded as high as $9.39 and last traded at $9.39. Approximately 453,450 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 875,897 shares. The stock had previously closed at $8.88.

Analyst Ratings Changes

CRSR has been the subject of a number of research reports. Macquarie decreased their target price on Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Wedbush reissued an “outperform” rating and issued a $11.00 price objective on shares of Corsair Gaming in a research report on Tuesday, November 5th. The Goldman Sachs Group reduced their target price on shares of Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. TD Cowen cut their price objective on Corsair Gaming from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. Finally, Barclays decreased their target price on Corsair Gaming from $14.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.14.

Corsair Gaming Stock Performance

The firm has a market cap of $977.90 million, a price-to-earnings ratio of -10.38 and a beta of 1.63. The company has a quick ratio of 0.77, a current ratio of 1.58 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average of $7.50 and a 200 day moving average of $7.13.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Corsair Gaming by 995.8% during 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 during the last quarter. FMR LLC raised its holdings in shares of Corsair Gaming by 89.0% during the third quarter. FMR LLC now owns 4,864 shares of the company’s stock worth $34,000 after purchasing an additional 2,291 shares during the period. Intech Investment Management LLC bought a new position in shares of Corsair Gaming in the 3rd quarter worth about $77,000. Glenmede Trust Co. NA acquired a new position in shares of Corsair Gaming in the 3rd quarter valued at about $97,000. Finally, SG Americas Securities LLC bought a new stake in shares of Corsair Gaming during the 3rd quarter valued at about $101,000. 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.