Corsair Gaming (NASDAQ:CRSR) Shares Gap Up – Should You Buy?

Corsair Gaming, Inc. (NASDAQ:CRSR) gapped up before the market opened on Wednesday . The stock had previously closed at $9.88, but opened at $10.34. Corsair Gaming shares last traded at $10.7150, with a volume of 365,489 shares traded.

Analyst Ratings Changes

Several brokerages have weighed in on CRSR. Roth Capital began coverage on shares of Corsair Gaming in a research note on Wednesday. They issued a “buy” rating and a $15.00 target price for the company. B. Riley Financial upped their price target on Corsair Gaming from $7.50 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday. Wall Street Zen upgraded Corsair Gaming from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 20th. Zacks Research raised Corsair Gaming from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, Wedbush boosted their target price on Corsair Gaming from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Corsair Gaming currently has an average rating of “Moderate Buy” and a consensus target price of $9.57.

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 firm has a market cap of $1.08 billion, a price-to-earnings ratio of 126.02 and a beta of 1.85. The stock’s 50 day simple moving average is $9.09 and its 200-day simple moving average is $6.99.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Corsair Gaming had a net margin of 0.71% and a return on equity of 9.71%. The business had revenue of $354.51 million during the quarter, compared to analysts’ expectations of $351.58 million. During the same quarter last year, the company posted $0.11 earnings per share. The business’s quarterly revenue was down 4.1% on a year-over-year basis. Equities research analysts anticipate that Corsair Gaming, Inc. will post 0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Corsair Gaming

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in Corsair Gaming by 245.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock valued at $49,000 after purchasing an additional 3,681 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of Corsair Gaming in the fourth quarter worth about $37,000. BNP Paribas Financial Markets raised its stake in shares of Corsair Gaming by 24.7% in the second quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock worth $74,000 after purchasing an additional 1,551 shares during the last quarter. Cetera Investment Advisers acquired a new stake in shares of Corsair Gaming during the first quarter worth about $56,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Corsair Gaming during the second quarter worth about $97,000. Hedge funds and other institutional investors own 25.66% of the company’s stock.

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.