Corsair Gaming (NASDAQ:CRSR) Shares Down 4.6% - Should You Sell?

Key Points

• Corsair Gaming's shares declined 4.6%, trading at $8.53 with significantly reduced volume of 241,966 shares compared to the average of 860,673 shares.
• Analysts have upgraded the stock to a "Moderate Buy" rating with an average target price of $9.83, reflecting a range of ratings including one "Strong Buy".
• In the latest quarterly earnings report, Corsair Gaming reported earnings of $0.01 per share and revenue of $320.11 million, surpassing analyst expectations and showing a 22.5% increase from the previous year.

Corsair Gaming, Inc. (NASDAQ:CRSR - Get Free Report)'s share price traded down 4.6% on Tuesday . The stock traded as low as $8.52 and last traded at $8.53. 241,966 shares were traded during mid-day trading, a decline of 72% from the average session volume of 860,673 shares. The stock had previously closed at $8.94.

Analysts Set New Price Targets

Several equities research analysts have commented on CRSR shares. Barclays upgraded shares of Corsair Gaming to a "strong-buy" rating in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Corsair Gaming from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $9.83.

Corsair Gaming Stock Performance

The stock has a fifty day moving average price of $9.05 and a 200 day moving average price of $8.77. The company has a current ratio of 1.45, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The firm has a market cap of $898.13 million, a price-to-earnings ratio of -10.46 and a beta of 1.77.

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, hitting the consensus estimate of $0.01. The business had revenue of $320.11 million during the quarter, compared to analysts' expectations of $312.38 million. Corsair Gaming had a negative return on equity of 3.12% and a negative net margin of 6.00%.The firm's revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.07) EPS. Corsair Gaming has set its FY 2025 guidance at EPS. As a group, analysts predict that Corsair Gaming, Inc. will post 0.22 earnings per share for the current year.

Institutional Trading of Corsair Gaming

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtus Advisers LLC bought a new stake in shares of Corsair Gaming in the second quarter valued at about $45,000. Ameritas Investment Partners Inc. raised its stake in shares of Corsair Gaming by 30.7% in the second quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company's stock valued at $45,000 after purchasing an additional 1,120 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Corsair Gaming by 245.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company's stock worth $49,000 after purchasing an additional 3,681 shares during the period. BNP Paribas Financial Markets acquired a new stake in Corsair Gaming during the fourth quarter worth $56,000. Finally, PNC Financial Services Group Inc. increased its holdings 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 buying an additional 3,571 shares during the period. 25.66% of the stock is currently owned by institutional investors and hedge funds.

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.

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