Corsair Gaming, Inc. (NASDAQ:CRSR) Short Interest Down 6.6% in October

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CRSR shares. Barclays lowered their target price on Corsair Gaming from $14.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. TD Cowen dropped their price objective on shares of Corsair Gaming from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of Corsair Gaming in a report on Tuesday, November 5th. The Goldman Sachs Group lowered their target price 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. Finally, Robert W. Baird decreased their price objective on Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.14.

Corsair Gaming Stock Performance

Shares of CRSR stock opened at $6.59 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 1.58. The company has a market capitalization of $689.97 million, a price-to-earnings ratio of -7.32 and a beta of 1.59. Corsair Gaming has a 52-week low of $5.59 and a 52-week high of $15.07. The company has a 50-day simple moving average of $6.68 and a two-hundred day simple moving average of $8.38.

Hedge Funds Weigh In On Corsair Gaming

Institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its holdings in Corsair Gaming by 85.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,037,958 shares of the company’s stock worth $28,104,000 after acquiring an additional 1,857,532 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of Corsair Gaming during the 3rd quarter worth $1,094,000. Main Management ETF Advisors LLC purchased a new position in shares of Corsair Gaming in the 3rd quarter worth about $735,000. Creative Planning grew its position in Corsair Gaming by 579.2% during the third quarter. Creative Planning now owns 82,182 shares of the company’s stock valued at $572,000 after buying an additional 70,083 shares during the period. Finally, Quest Partners LLC purchased a new stake in Corsair Gaming during the third quarter worth about $462,000. 25.66% of the stock is owned by institutional investors.

About Corsair Gaming

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.