Corsair Gaming (NASDAQ:CRSR) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Corsair Gaming (NASDAQ:CRSR) from a buy rating to a hold rating in a research report report published on Saturday.

A number of other brokerages also recently commented on CRSR. B. Riley lowered their price objective on Corsair Gaming from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Wedbush cut their price objective on shares of Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Macquarie decreased their target price on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Corsair Gaming in a research note on Wednesday, November 19th. Finally, Barclays lowered their price objective on shares of Corsair Gaming from $12.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Corsair Gaming currently has an average rating of “Hold” and a consensus price target of $9.29.

Corsair Gaming Trading Up 9.7%

Corsair Gaming stock opened at $6.08 on Friday. The stock has a 50-day moving average price of $7.64 and a 200 day moving average price of $8.54. Corsair Gaming has a 52 week low of $5.35 and a 52 week high of $13.02. The stock has a market cap of $647.98 million, a PE ratio of -17.88 and a beta of 1.84. The company has a current ratio of 1.48, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The firm had revenue of $345.76 million for the quarter, compared to analysts’ expectations of $354.04 million. Corsair Gaming had a positive return on equity of 3.37% and a negative net margin of 2.46%.The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.29) earnings per share. Corsair Gaming has set its FY 2025 guidance at EPS. Equities research analysts predict that Corsair Gaming will post 0.22 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Samuel R. Szteinbaum bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average cost of $6.59 per share, for a total transaction of $659,000.00. Following the acquisition, the director owned 420,267 shares in the company, valued at $2,769,559.53. This represents a 31.22% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 58.38% of the company’s stock.

Institutional Trading of Corsair Gaming

A number of hedge funds have recently made changes to their positions in the company. Sunriver Management LLC acquired a new stake in Corsair Gaming during the 1st quarter valued at $16,733,000. Driehaus Capital Management LLC purchased a new stake in shares of Corsair Gaming during the first quarter worth about $7,772,000. Alyeska Investment Group L.P. lifted its stake in shares of Corsair Gaming by 302.3% in the first quarter. Alyeska Investment Group L.P. now owns 914,879 shares of the company’s stock worth $8,106,000 after acquiring an additional 687,477 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Corsair Gaming in the third quarter worth about $3,877,000. Finally, ArrowMark Colorado Holdings LLC boosted its holdings in Corsair Gaming by 128.9% in the third quarter. ArrowMark Colorado Holdings LLC now owns 625,000 shares of the company’s stock valued at $5,575,000 after purchasing an additional 352,000 shares during the last quarter. Hedge funds and other institutional investors own 25.66% of the company’s stock.

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.