Corsair Gaming (NASDAQ:CRSR) Sees Strong Trading Volume – Time to Buy?

Corsair Gaming, Inc. (NASDAQ:CRSR) saw unusually-strong trading volume on Friday . Approximately 3,274,916 shares changed hands during trading, an increase of 48% from the previous session’s volume of 2,210,510 shares.The stock last traded at $11.8110 and had previously closed at $11.95.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CRSR shares. Zacks Research cut shares of Corsair Gaming from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. Craig Hallum lifted their price objective on shares of Corsair Gaming from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Robert W. Baird set a $6.00 price target on shares of Corsair Gaming in a research note on Friday, February 13th. Wedbush lifted their price target on shares of Corsair Gaming from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Wall Street Zen lowered shares of Corsair Gaming from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.33.

Corsair Gaming Price Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.74. The company has a market capitalization of $1.25 billion, a PE ratio of 145.84 and a beta of 1.59. The company’s 50-day simple moving average is $6.59 and its 200-day simple moving average is $6.09.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.09. Corsair Gaming had a net margin of 0.71% and a return on equity of 9.71%. The company had revenue of $354.51 million for the quarter, compared to the consensus estimate of $351.58 million. During the same period last year, the firm posted $0.11 EPS. Corsair Gaming’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Corsair Gaming, Inc. will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CRSR. Vanguard Group Inc. lifted its holdings in Corsair Gaming by 4.0% in the third quarter. Vanguard Group Inc. now owns 6,916,703 shares of the company’s stock valued at $61,697,000 after acquiring an additional 269,193 shares during the period. ArrowMark Colorado Holdings LLC boosted its position in shares of Corsair Gaming by 128.9% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 625,000 shares of the company’s stock worth $5,575,000 after purchasing an additional 352,000 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Corsair Gaming by 15.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock worth $18,075,000 after purchasing an additional 401,171 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Corsair Gaming during the 3rd quarter worth $1,047,000. Finally, Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Corsair Gaming during the 4th quarter worth $1,158,000. 25.66% of the stock is owned by hedge funds and other institutional investors.

About Corsair Gaming

Corsair Gaming, Inc, headquartered in Fremont, California, is a leading manufacturer of high-performance gaming peripherals and PC components. Since its founding in 1994 by Andy Paul, Don Lieberman and John Beekley as Corsair Microsystems, the company has evolved from producing memory modules to a broad portfolio of gaming hardware. Its product range includes gaming keyboards, mice, headsets, PC chassis, power supplies, cooling solutions, memory modules, solid-state drives and streaming accessories under brands such as Corsair, Elgato and SCUF Gaming.

The company’s solutions cater to PC enthusiasts, competitive gamers and content creators, offering hardware and integrated software designed to optimize performance and user experience.