Stock Traders Buy Large Volume of Call Options on Corsair Gaming (NASDAQ:CRSR)

Corsair Gaming, Inc. (NASDAQ:CRSR) saw some unusual options trading activity on Wednesday. Stock investors bought 7,200 call options on the stock. This is an increase of approximately 321% compared to the typical volume of 1,712 call options.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Corsair Gaming by 4.0% during 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 last quarter. ArrowMark Colorado Holdings LLC boosted its stake in shares of Corsair Gaming by 128.9% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 625,000 shares of the company’s stock valued at $5,575,000 after purchasing an additional 352,000 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Corsair Gaming by 15.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock valued at $18,075,000 after purchasing an additional 401,171 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Corsair Gaming during the 3rd quarter valued at $1,047,000. Finally, Optimize Financial Inc bought a new position in shares of Corsair Gaming during the 3rd quarter valued at $1,396,000. Institutional investors own 25.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CRSR shares. Wall Street Zen lowered shares of Corsair Gaming from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. B. Riley Financial raised their price target on shares of Corsair Gaming from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Barclays boosted their price target on shares of Corsair Gaming from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings upgraded Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, Robert W. Baird set a $6.00 price objective on Corsair Gaming in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.33.

Corsair Gaming Price Performance

Shares of CRSR stock traded up $0.88 during trading on Wednesday, hitting $8.97. The company had a trading volume of 1,589,348 shares, compared to its average volume of 1,878,159. The stock’s 50-day moving average is $6.36 and its two-hundred day moving average is $6.03. The stock has a market capitalization of $958.84 million, a price-to-earnings ratio of 112.41 and a beta of 1.59. The company has a quick ratio of 0.95, a current ratio of 1.74 and a debt-to-equity ratio of 0.18. Corsair Gaming has a 52 week low of $4.48 and a 52 week high of $10.29.

Corsair Gaming (NASDAQ:CRSR) last announced its earnings results on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.09. The business had revenue of $354.51 million during the quarter, compared to analyst estimates of $351.58 million. Corsair Gaming had a net margin of 0.71% and a return on equity of 9.71%. Corsair Gaming’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 earnings per share. As a group, analysts predict that Corsair Gaming will post 0.46 EPS for the current fiscal year.

Corsair Gaming Company Profile

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.