Short Interest in Corsair Gaming, Inc. (NASDAQ:CRSR) Grows By 19.8%

Corsair Gaming, Inc. (NASDAQ:CRSR - Get Free Report) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 4,060,000 shares, an increase of 19.8% from the April 30th total of 3,390,000 shares. Based on an average daily volume of 1,010,000 shares, the short-interest ratio is presently 4.0 days. Currently, 9.0% of the company's shares are short sold.

Insider Buying and Selling

In other Corsair Gaming news, CFO Michael G. Potter sold 4,124 shares of Corsair Gaming stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $10.08, for a total transaction of $41,569.92. Following the completion of the sale, the chief financial officer now directly owns 125,650 shares in the company, valued at $1,266,552. This trade represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 58.38% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. lifted its stake in Corsair Gaming by 133.0% in the fourth quarter. Vontobel Holding Ltd. now owns 70,109 shares of the company's stock worth $463,000 after acquiring an additional 40,015 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Corsair Gaming by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 5,813,359 shares of the company's stock worth $38,426,000 after buying an additional 148,674 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Corsair Gaming during the 4th quarter worth approximately $912,000. Invesco Ltd. lifted its position in shares of Corsair Gaming by 28.4% during the 4th quarter. Invesco Ltd. now owns 578,749 shares of the company's stock worth $3,826,000 after buying an additional 127,948 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of Corsair Gaming by 1,051.0% during the 4th quarter. Intech Investment Management LLC now owns 127,647 shares of the company's stock worth $844,000 after buying an additional 116,557 shares during the last quarter. Hedge funds and other institutional investors own 25.66% of the company's stock.

Corsair Gaming Stock Up 1.4%

Corsair Gaming stock traded up $0.13 during trading on Friday, reaching $9.18. The stock had a trading volume of 438,127 shares, compared to its average volume of 756,135. Corsair Gaming has a 52-week low of $5.60 and a 52-week high of $13.02. The business has a 50 day moving average price of $7.56 and a 200 day moving average price of $8.45. The company has a quick ratio of 0.92, a current ratio of 1.57 and a debt-to-equity ratio of 0.27. The stock has a market cap of $971.44 million, a PE ratio of -9.66 and a beta of 1.77.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). Corsair Gaming had a negative return on equity of 4.62% and a negative net margin of 7.53%. The firm had revenue of $369.75 million during the quarter, compared to analysts' expectations of $366.20 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The firm's revenue was up 9.6% compared to the same quarter last year. On average, analysts predict that Corsair Gaming will post 0.22 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Robert W. Baird set a $10.00 price target on shares of Corsair Gaming in a research report on Wednesday, May 7th. Wedbush reissued an "outperform" rating and issued a $13.00 price objective on shares of Corsair Gaming in a research note on Monday, May 5th. Wall Street Zen lowered shares of Corsair Gaming from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Barclays lowered their price objective on shares of Corsair Gaming from $12.00 to $10.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group lowered their price objective on shares of Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Corsair Gaming currently has a consensus rating of "Moderate Buy" and an average price target of $10.00.

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.