Corsair Gaming Sees Unusually High Options Volume (NASDAQ:CRSR)

Key Points

• Corsair Gaming experienced a significant increase in options trading, with 5,524 call options purchased, marking a 1,150% rise compared to average daily volume.
• Several analysts have issued ratings for Corsair Gaming, with an average recommendation of "Hold" and a price target of $10.13, while Barclays recently upgraded its rating to "strong-buy."
• The stock rose by 6.7% on Thursday, reaching $8.58, amidst trading volumes lower than its average, hinting at increased investor interest.

Corsair Gaming, Inc. (NASDAQ:CRSR - Get Free Report) was the target of unusually large options trading activity on Thursday. Investors purchased 5,524 call options on the company. This is an increase of approximately 1,150% compared to the typical daily volume of 442 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Craig Hallum assumed coverage on shares of Corsair Gaming in a research note on Wednesday, October 8th. They issued a "buy" rating and a $12.00 target price 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. B. Riley began coverage on shares of Corsair Gaming in a research report on Thursday, October 2nd. They set a "neutral" rating and a $10.00 price target on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Corsair Gaming in a research report on Wednesday, October 8th. Finally, Barclays upgraded shares of Corsair Gaming to a "strong-buy" rating in a research report on Friday, August 8th. One 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 assigned a Sell rating to the company. According to MarketBeat.com, Corsair Gaming currently has an average rating of "Hold" and an average target price of $10.13.

Corsair Gaming Stock Up 6.7%

NASDAQ CRSR traded up $0.54 during trading hours on Thursday, reaching $8.58. 374,833 shares of the company's stock were exchanged, compared to its average volume of 844,873. The company's 50-day moving average is $8.49 and its two-hundred day moving average is $8.47. Corsair Gaming has a one year low of $5.64 and a one year high of $13.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.45. The company has a market capitalization of $909.82 million, a price-to-earnings ratio of -10.57 and a beta of 1.76.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.01. Corsair Gaming had a negative return on equity of 3.12% and a negative net margin of 6.00%.The business had revenue of $320.11 million during the quarter, compared to analysts' expectations of $312.38 million. During the same period in the prior year, the business earned ($0.07) EPS. Corsair Gaming's revenue for the quarter was up 22.5% compared to the same quarter last year. Corsair Gaming has set its FY 2025 guidance at EPS. On average, analysts forecast that Corsair Gaming will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Corsair Gaming

Several hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC grew its stake in shares of Corsair Gaming by 195.2% during the 3rd quarter. SG Americas Securities LLC now owns 35,988 shares of the company's stock worth $321,000 after acquiring an additional 23,797 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of Corsair Gaming by 23.2% during the 3rd quarter. Vontobel Holding Ltd. now owns 55,821 shares of the company's stock worth $498,000 after acquiring an additional 10,499 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Corsair Gaming during the 2nd quarter worth approximately $133,000. Public Sector Pension Investment Board grew its stake in shares of Corsair Gaming by 8.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 155,123 shares of the company's stock worth $1,463,000 after acquiring an additional 12,338 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Corsair Gaming by 245.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company's stock valued at $49,000 after buying an additional 3,681 shares in the last quarter. 25.66% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.