Corsair Gaming (NASDAQ:CRSR) Reaches New 52-Week Low – Time to Sell?

Corsair Gaming, Inc. (NASDAQ:CRSR) shares hit a new 52-week low during trading on Monday . The stock traded as low as $4.98 and last traded at $5.14, with a volume of 6926 shares trading hands. The stock had previously closed at $5.10.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. B. Riley lowered their price target on Corsair Gaming from $9.00 to $7.50 and set a “neutral” rating for the company in a report on Monday, December 22nd. Barclays lowered their target price on Corsair Gaming from $12.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Macquarie cut their target price on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Wedbush dropped their price target on shares of Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Corsair Gaming in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $9.07.

Corsair Gaming Trading Up 3.2%

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.72. The firm has a market cap of $561.09 million, a price-to-earnings ratio of -15.48 and a beta of 1.55. The firm’s fifty day moving average is $5.99 and its 200-day moving average is $7.47.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The business had revenue of $345.76 million for the quarter, compared to analyst estimates of $354.04 million. Corsair Gaming had a positive return on equity of 3.37% and a negative net margin of 2.46%.The business’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.29) earnings per share. Equities analysts anticipate that Corsair Gaming, Inc. will post 0.22 earnings per share for the current year.

Insider Buying and Selling at Corsair Gaming

In related news, CEO Thi L. La purchased 50,000 shares of Corsair Gaming stock in a transaction on Tuesday, November 25th. The stock was acquired at an average cost of $6.10 per share, for a total transaction of $305,000.00. Following the completion of the acquisition, the chief executive officer owned 480,726 shares of the company’s stock, valued at $2,932,428.60. This trade represents a 11.61% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Samuel R. Szteinbaum purchased 100,000 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was bought at an average cost of $6.59 per share, with a total value of $659,000.00. Following the completion of the purchase, the director owned 420,267 shares of the company’s stock, valued at approximately $2,769,559.53. This represents a 31.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 58.38% of the company’s stock.

Institutional Trading of Corsair Gaming

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtus Advisers LLC acquired a new position in Corsair Gaming during the 2nd quarter worth approximately $45,000. Ameritas Investment Partners Inc. increased its stake in Corsair Gaming by 30.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock valued at $45,000 after purchasing an additional 1,120 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Corsair Gaming by 245.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock worth $49,000 after buying an additional 3,681 shares during the last quarter. BNP Paribas Financial Markets lifted 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 valued at $74,000 after buying an additional 1,551 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Corsair Gaming by 70.6% during the second quarter. PNC Financial Services Group Inc. now owns 8,632 shares of the company’s stock valued at $81,000 after buying an additional 3,571 shares during the last quarter. 25.66% of the stock is owned by institutional investors.

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.