Corsair Gaming (NASDAQ:CRSR) Reaches New 12-Month Low at $10.31

Corsair Gaming, Inc. (NASDAQ:CRSR - Get Free Report) shares hit a new 52-week low on Wednesday . The stock traded as low as $10.31 and last traded at $10.74, with a volume of 284570 shares. The stock had previously closed at $11.76.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CRSR. Wedbush reiterated an "outperform" rating and set a $18.00 target price on shares of Corsair Gaming in a report on Wednesday. Barclays lowered their target price on Corsair Gaming from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Wednesday, February 14th. Robert W. Baird reduced their price target on Corsair Gaming from $15.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, February 15th. Finally, Stifel Nicolaus lowered their price objective on Corsair Gaming from $17.00 to $16.00 and set an "action list buy" rating for the company in a research report on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Corsair Gaming currently has an average rating of "Moderate Buy" and an average price target of $15.83.

Corsair Gaming Trading Down 8.2 %

The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 359.79 and a beta of 1.61. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.13 and a current ratio of 1.70. The company has a 50-day moving average price of $11.90 and a 200-day moving average price of $12.82.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). The business had revenue of $417.29 million during the quarter, compared to analyst estimates of $435.57 million. Corsair Gaming had a net margin of 0.15% and a return on equity of 5.13%. As a group, research analysts forecast that Corsair Gaming, Inc. will post 0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Corsair Gaming

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd grew its holdings in shares of Corsair Gaming by 23,240.0% during the third quarter. Covestor Ltd now owns 2,334 shares of the company's stock worth $34,000 after purchasing an additional 2,324 shares during the last quarter. SG Americas Securities LLC purchased a new position in Corsair Gaming during the 4th quarter worth approximately $177,000. Victory Capital Management Inc. purchased a new position in Corsair Gaming during the 3rd quarter worth approximately $262,000. Amalgamated Bank increased its position in Corsair Gaming by 6.9% during the third quarter. Amalgamated Bank now owns 19,357 shares of the company's stock worth $281,000 after buying an additional 1,243 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new stake in Corsair Gaming in the fourth quarter valued at approximately $305,000. 25.66% of the stock is currently owned by institutional investors and hedge funds.

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.