Corsair Gaming's (CRSR) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Corsair Gaming has had its "sell (D-)" rating reaffirmed by Weiss Ratings, indicating a negative outlook for the stock.
• Despite the overall bearish sentiment, other analysts have rated the stock higher, with one Strong Buy, three Buy, and four Hold ratings, suggesting mixed signals for investors.
• Corsair Gaming's stock recently traded at $8.60, with a 1-year low of $5.64 and a high of $13.02, reflecting significant volatility in its market performance.

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

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

Corsair Gaming Trading Up 2.4%

NASDAQ:CRSR traded up $0.20 during trading hours on Friday, hitting $8.60. The company had a trading volume of 420,526 shares, compared to its average volume of 728,530. Corsair Gaming has a 1 year low of $5.64 and a 1 year high of $13.02. The company has a market cap of $911.94 million, a P/E ratio of -10.62 and a beta of 1.76. The company has a 50-day moving average of $8.48 and a 200 day moving average of $8.50. The company has a current ratio of 1.45, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $312.38 million. During the same quarter in the previous year, the firm earned ($0.07) EPS. The company's quarterly revenue was up 22.5% compared to the same quarter last year. Corsair Gaming has set its FY 2025 guidance at EPS. Sell-side analysts expect that Corsair Gaming will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. grew 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 buying an additional 1,120 shares in the last quarter. Virtus Advisers LLC purchased a new position in Corsair Gaming during the 2nd quarter valued at about $45,000. Tower Research Capital LLC TRC boosted its holdings in Corsair Gaming by 245.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company's stock valued at $49,000 after acquiring an additional 3,681 shares during the period. BNP Paribas Financial Markets grew its position 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 acquiring an additional 1,551 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Corsair Gaming by 70.6% during the second quarter. PNC Financial Services Group Inc. now owns 8,632 shares of the company's stock worth $81,000 after purchasing an additional 3,571 shares during the period. 25.66% of the stock is currently owned by hedge funds and other 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.

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