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

Corsair Gaming, Inc. (NASDAQ:CRSR) was the recipient of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 3,440,000 shares, an increase of 5.5% from the October 31st total of 3,260,000 shares. Currently, 7.7% of the shares of the company are sold short. Based on an average daily volume of 489,300 shares, the short-interest ratio is presently 7.0 days.

Corsair Gaming Stock Performance

Shares of CRSR traded up $0.23 during mid-day trading on Wednesday, hitting $8.07. The stock had a trading volume of 89,486 shares, compared to its average volume of 454,035. The company has a quick ratio of 0.77, a current ratio of 1.58 and a debt-to-equity ratio of 0.28. The company has a market cap of $844.93 million, a PE ratio of -8.71 and a beta of 1.62. Corsair Gaming has a fifty-two week low of $5.59 and a fifty-two week high of $15.07. The company’s fifty day simple moving average is $6.89 and its two-hundred day simple moving average is $8.11.

Institutional Trading of Corsair Gaming

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Corsair Gaming by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,485,063 shares of the company’s stock worth $67,686,000 after acquiring an additional 64,373 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Corsair Gaming by 7.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,235 shares of the company’s stock worth $250,000 after purchasing an additional 1,348 shares during the period. Virtu Financial LLC bought a new stake in shares of Corsair Gaming in the 1st quarter worth approximately $162,000. Lebenthal Global Advisors LLC boosted its position in Corsair Gaming by 16.2% during the 2nd quarter. Lebenthal Global Advisors LLC now owns 39,508 shares of the company’s stock valued at $436,000 after purchasing an additional 5,508 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Corsair Gaming by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,252,737 shares of the company’s stock worth $13,830,000 after buying an additional 41,832 shares during the last quarter. 25.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on CRSR shares. Barclays reduced their price objective on shares of Corsair Gaming from $14.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Wedbush reiterated an “outperform” rating and set a $11.00 target price on shares of Corsair Gaming in a report on Tuesday, November 5th. Macquarie cut their price objective on shares of Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. The Goldman Sachs Group dropped their target price on Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Finally, TD Cowen decreased their price target on shares of Corsair Gaming from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $9.14.

Corsair Gaming Company Profile

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.