Corsair Gaming (NASDAQ:CRSR) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• Corsair Gaming has received a "sell (D-)" rating from Weiss Ratings, signaling weak performance expectations from analysts.
• Despite the negative rating from Weiss, other analysts have issued varied ratings on Corsair, with a consensus rating of "Hold" and a target price of $10.13.
• The company's stock saw trading activity with a market cap of $854.68 million, a 52-week range of $5.64 to $13.02, and reported a quarterly revenue increase of 22.5% year-over-year.

Corsair Gaming (NASDAQ:CRSR - Get Free Report)'s stock had its "sell (d-)" rating reiterated by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued reports about the stock. B. Riley initiated coverage on shares of Corsair Gaming in a research report on Thursday, October 2nd. They issued a "neutral" rating and a $10.00 price objective on the stock. Craig Hallum initiated coverage on shares of Corsair Gaming in a research report on Wednesday. They issued a "buy" rating and a $12.00 price objective on the stock. Wall Street Zen upgraded shares of Corsair Gaming from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Finally, Barclays upgraded shares of Corsair Gaming to a "strong-buy" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $10.13.

Corsair Gaming Stock Performance

NASDAQ:CRSR traded up $0.65 during trading hours on Wednesday, reaching $8.06. 1,231,441 shares of the company's stock were exchanged, compared to its average volume of 803,708. The firm has a market capitalization of $854.68 million, a price-to-earnings ratio of -9.95 and a beta of 1.76. The company has a 50-day moving average of $8.70 and a 200 day moving average of $8.53. The company has a quick ratio of 0.75, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. Corsair Gaming has a 1-year low of $5.64 and a 1-year high of $13.02.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.01 earnings per share for the quarter, meeting analysts' consensus estimates of $0.01. Corsair Gaming had a negative net margin of 6.00% and a negative return on equity of 3.12%. The firm had revenue of $320.11 million for the quarter, compared to analyst estimates of $312.38 million. During the same period last year, the firm posted ($0.07) EPS. Corsair Gaming's quarterly revenue was up 22.5% on a year-over-year basis. Corsair Gaming has set its FY 2025 guidance at EPS. Research analysts anticipate that Corsair Gaming will post 0.22 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CRSR. Ameritas Investment Partners Inc. boosted its position in shares of Corsair Gaming by 30.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company's stock worth $45,000 after buying an additional 1,120 shares in the last quarter. Virtus Advisers LLC purchased a new stake in shares of Corsair Gaming in the 2nd quarter worth about $45,000. Tower Research Capital LLC TRC raised its stake in Corsair Gaming by 245.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company's stock valued at $49,000 after purchasing an additional 3,681 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Corsair Gaming by 24.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company's stock valued at $74,000 after purchasing an additional 1,551 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Corsair Gaming by 70.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,632 shares of the company's stock valued at $81,000 after purchasing an additional 3,571 shares during the last quarter. Institutional investors and hedge funds 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.

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