Corsair Gaming, Inc. (NASDAQ:CRSR – Get Free Report)’s stock price was down 6.1% on Friday . The company traded as low as $8.44 and last traded at $8.40. Approximately 928,565 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 2,363,460 shares. The stock had previously closed at $8.95.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on CRSR shares. Weiss Ratings raised shares of Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Craig Hallum reissued a “hold” rating and issued a $10.00 price objective on shares of Corsair Gaming in a research report on Monday, June 1st. Wall Street Zen cut shares of Corsair Gaming from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Wedbush increased their price target on shares of Corsair Gaming from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Barclays increased their price target on shares of Corsair Gaming from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Corsair Gaming currently has a consensus rating of “Hold” and a consensus price target of $8.33.
Check Out Our Latest Analysis on Corsair Gaming
Corsair Gaming Stock Down 6.3%
Corsair Gaming (NASDAQ:CRSR – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Corsair Gaming had a net margin of 0.71% and a return on equity of 9.71%. The firm had revenue of $354.51 million for the quarter, compared to analysts’ expectations of $351.58 million. During the same quarter last year, the company posted $0.11 earnings per share. Corsair Gaming’s revenue was down 4.1% on a year-over-year basis. On average, research analysts anticipate that Corsair Gaming, Inc. will post 0.46 earnings per share for the current year.
Hedge Funds Weigh In On Corsair Gaming
A number of large investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its stake in shares of Corsair Gaming by 428.8% in the first quarter. AQR Capital Management LLC now owns 92,778 shares of the company’s stock valued at $822,000 after purchasing an additional 75,232 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Corsair Gaming by 12.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,538 shares of the company’s stock valued at $846,000 after purchasing an additional 10,620 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Corsair Gaming by 83.3% in the first quarter. Goldman Sachs Group Inc. now owns 449,779 shares of the company’s stock valued at $3,985,000 after purchasing an additional 204,351 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Corsair Gaming by 15.8% in the second quarter. JPMorgan Chase & Co. now owns 25,289 shares of the company’s stock valued at $238,000 after purchasing an additional 3,454 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Corsair Gaming by 1.3% in the second quarter. Legal & General Group Plc now owns 122,484 shares of the company’s stock valued at $1,155,000 after purchasing an additional 1,592 shares during the period. Institutional investors own 25.66% of the company’s stock.
Corsair Gaming Company Profile
Corsair Gaming, Inc, headquartered in Fremont, California, is a leading manufacturer of high-performance gaming peripherals and PC components. Since its founding in 1994 by Andy Paul, Don Lieberman and John Beekley as Corsair Microsystems, the company has evolved from producing memory modules to a broad portfolio of gaming hardware. Its product range includes gaming keyboards, mice, headsets, PC chassis, power supplies, cooling solutions, memory modules, solid-state drives and streaming accessories under brands such as Corsair, Elgato and SCUF Gaming.
The company’s solutions cater to PC enthusiasts, competitive gamers and content creators, offering hardware and integrated software designed to optimize performance and user experience.
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