Corsair Gaming (NASDAQ:CRSR) Shares Up 6.5% – Still a Buy?

Corsair Gaming, Inc. (NASDAQ:CRSR) shares were up 6.5% on Monday . The stock traded as high as $7.84 and last traded at $7.83. Approximately 142,651 shares were traded during trading, a decline of 68% from the average daily volume of 452,517 shares. The stock had previously closed at $7.35.

Wall Street Analyst Weigh In

CRSR has been the subject of a number of research analyst reports. Wedbush reissued an “outperform” rating and issued a $11.00 target price on shares of Corsair Gaming in a report on Tuesday, November 5th. Robert W. Baird dropped their price target on shares of Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Barclays lowered their price objective on shares of Corsair Gaming from $14.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. The Goldman Sachs Group decreased their target price on shares of Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Finally, Macquarie dropped their price target on Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.14.

Corsair Gaming Stock Performance

The stock has a market cap of $811.43 million, a P/E ratio of -8.70 and a beta of 1.59. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 1.58. The business’s 50-day moving average price is $6.83 and its 200-day moving average price is $8.16.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CRSR. GAMMA Investing LLC boosted its holdings in Corsair Gaming by 995.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,745 shares of the company’s stock worth $33,000 after buying an additional 4,312 shares during the period. FMR LLC raised its position in shares of Corsair Gaming by 89.0% during the 3rd quarter. FMR LLC now owns 4,864 shares of the company’s stock valued at $34,000 after buying an additional 2,291 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Corsair Gaming in the 2nd quarter worth approximately $121,000. Intech Investment Management LLC bought a new position in Corsair Gaming during the third quarter valued at $77,000. Finally, Virtu Financial LLC purchased a new stake in Corsair Gaming in the 1st quarter worth about $162,000. 25.66% of the stock is owned by hedge funds and other institutional investors.

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.