Corsair Gaming, Inc. (NASDAQ:CRSR) Sees Significant Drop in Short Interest

Corsair Gaming, Inc. (NASDAQ:CRSR) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 3,260,000 shares, a decline of 6.6% from the October 15th total of 3,490,000 shares. Based on an average daily trading volume, of 506,800 shares, the days-to-cover ratio is currently 6.4 days. Currently, 7.3% of the company’s shares are short sold.

Wall Street Analyst Weigh In

CRSR has been the topic of several recent research reports. Robert W. Baird reduced their price target on Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. TD Cowen dropped their price objective on Corsair Gaming from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. Stifel Nicolaus decreased their price objective on shares of Corsair Gaming from $16.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Barclays cut their target price 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. Finally, The Goldman Sachs Group lowered their price target on shares of Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.14.

Institutional Investors Weigh In On Corsair Gaming

A number of institutional investors have recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in Corsair Gaming by 257.3% in the third quarter. Barclays PLC now owns 78,933 shares of the company’s stock valued at $549,000 after purchasing an additional 56,841 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Corsair Gaming in the 3rd quarter valued at about $108,000. Main Management ETF Advisors LLC acquired a new stake in shares of Corsair Gaming in the third quarter valued at about $735,000. State Street Corp raised its position in shares of Corsair Gaming by 0.8% during the third quarter. State Street Corp now owns 1,631,501 shares of the company’s stock worth $11,355,000 after acquiring an additional 12,373 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of Corsair Gaming by 39.6% in the third quarter. Stifel Financial Corp now owns 214,564 shares of the company’s stock worth $1,493,000 after acquiring an additional 60,811 shares during the period. 25.66% of the stock is owned by institutional investors.

Corsair Gaming Price Performance

NASDAQ:CRSR traded down $0.09 during trading hours on Monday, hitting $6.61. The company’s stock had a trading volume of 322,219 shares, compared to its average volume of 454,853. The stock has a fifty day simple moving average of $6.65 and a 200-day simple moving average of $8.45. The company has a market capitalization of $692.07 million, a P/E ratio of -7.44 and a beta of 1.59. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.58 and a quick ratio of 0.77. Corsair Gaming has a twelve month low of $5.59 and a twelve month high of $15.07.

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.