Corsair Gaming (NASDAQ:CRSR) Stock Price Down 15.6% – Should You Sell?

Corsair Gaming, Inc. (NASDAQ:CRSR)’s stock price traded down 15.6% during trading on Thursday . The company traded as low as $7.69 and last traded at $7.56. 189,353 shares were traded during trading, a decline of 70% from the average session volume of 634,413 shares. The stock had previously closed at $8.95.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays lifted their target price on Corsair Gaming from $9.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Wedbush reissued an “outperform” rating and issued a $12.00 price target (up previously from $10.00) on shares of Corsair Gaming in a research note on Wednesday, February 5th. Finally, Robert W. Baird upped their price objective on shares of Corsair Gaming from $8.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Corsair Gaming has an average rating of “Moderate Buy” and an average price target of $10.14.

Corsair Gaming Stock Down 8.3 %

The firm has a 50-day moving average of $10.32 and a two-hundred day moving average of $8.21. The stock has a market capitalization of $708.82 million, a price-to-earnings ratio of -7.12 and a beta of 1.68. The company has a quick ratio of 0.92, a current ratio of 1.57 and a debt-to-equity ratio of 0.27.

Corsair Gaming (NASDAQ:CRSR) last issued its earnings results on Wednesday, February 12th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Corsair Gaming had a negative return on equity of 4.62% and a negative net margin of 7.53%. As a group, sell-side analysts anticipate that Corsair Gaming, Inc. will post 0.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Michael G. Potter sold 4,124 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $10.08, for a total transaction of $41,569.92. Following the completion of the sale, the chief financial officer now directly owns 125,650 shares in the company, valued at approximately $1,266,552. This trade represents a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 58.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CRSR. Intech Investment Management LLC bought a new stake in shares of Corsair Gaming in the 3rd quarter valued at approximately $77,000. FMR LLC lifted its stake in Corsair Gaming by 89.0% in the third quarter. FMR LLC now owns 4,864 shares of the company’s stock valued at $34,000 after acquiring an additional 2,291 shares during the last quarter. Glenmede Trust Co. NA bought a new stake in Corsair Gaming in the third quarter worth approximately $97,000. Verition Fund Management LLC acquired a new position in shares of Corsair Gaming during the 3rd quarter worth $247,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Corsair Gaming during the 3rd quarter valued at $1,094,000. 25.66% of the stock is 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.