Corsair Gaming, Inc. (NASDAQ:CRSR) Short Interest Update

Corsair Gaming, Inc. (NASDAQ:CRSR) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,620,000 shares, an increase of 11.0% from the February 29th total of 1,460,000 shares. Based on an average daily volume of 375,000 shares, the days-to-cover ratio is currently 4.3 days. Currently, 3.7% of the company’s stock are short sold.

Corsair Gaming Trading Down 1.5 %

Shares of NASDAQ:CRSR opened at $12.03 on Wednesday. The stock has a market capitalization of $1.24 billion, a PE ratio of 401.00 and a beta of 1.61. Corsair Gaming has a 1 year low of $11.45 and a 1 year high of $20.72. The firm has a fifty day moving average price of $12.79 and a 200 day moving average price of $13.30. The company has a current ratio of 1.70, a quick ratio of 1.13 and a debt-to-equity ratio of 0.27.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings data 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 the consensus estimate of $435.57 million. Corsair Gaming had a return on equity of 5.13% and a net margin of 0.15%. Analysts expect that Corsair Gaming will post 0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CRSR. Wedbush reaffirmed an “outperform” rating and issued a $21.00 price target on shares of Corsair Gaming in a research note on Wednesday, February 7th. Robert W. Baird dropped their price target on shares of Corsair Gaming from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 15th. Stifel Nicolaus dropped their price target on shares of Corsair Gaming from $17.00 to $16.00 and set an “action list buy” rating on the stock in a research note on Wednesday, February 14th. Finally, Barclays dropped their price target on shares of Corsair Gaming from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Corsair Gaming currently has an average rating of “Moderate Buy” and an average price target of $16.33.

Insider Buying and Selling at Corsair Gaming

In other Corsair Gaming news, COO Thi L. La sold 3,837 shares of the business’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $14.00, for a total transaction of $53,718.00. Following the sale, the chief operating officer now directly owns 212,994 shares of the company’s stock, valued at approximately $2,981,916. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 65.23% of the company’s stock.

Institutional Investors Weigh In On Corsair Gaming

A number of large investors have recently bought and sold shares of CRSR. BlackRock Inc. boosted its holdings in Corsair Gaming by 3.2% during the first quarter. BlackRock Inc. now owns 6,265,716 shares of the company’s stock valued at $114,976,000 after acquiring an additional 196,315 shares during the period. Vanguard Group Inc. boosted its holdings in Corsair Gaming by 2.8% during the third quarter. Vanguard Group Inc. now owns 5,429,071 shares of the company’s stock valued at $78,884,000 after acquiring an additional 149,947 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Corsair Gaming by 23.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,633,973 shares of the company’s stock valued at $23,040,000 after acquiring an additional 305,602 shares during the period. Palisade Capital Management LP boosted its holdings in Corsair Gaming by 19.2% during the fourth quarter. Palisade Capital Management LP now owns 1,429,110 shares of the company’s stock valued at $20,150,000 after acquiring an additional 230,390 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Corsair Gaming by 94.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,395,985 shares of the company’s stock valued at $19,683,000 after acquiring an additional 678,017 shares during the period. 25.66% of the stock is currently owned by 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.