Corsair Gaming Inc. [CRSR] Stock trading around $36.30 per share: What’s Next?

Corsair Gaming Inc. [NASDAQ: CRSR] stock went on an upward path that rose over 4.91% on Thursday, amounting to a one-week price decrease of less than -15.19%. The company report on November 30, 2020 that Corsair Gaming Updates Full Year 2020 Outlook.

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Net Revenue, Adjusted Operating Income and Adjusted EBITDA Expected to Exceed Prior Guidance.

Corsair Gaming, Inc. (NASDAQ:CRSR) (“Corsair”), a leading global provider and innovator of high-performance gear for gamers and content creators, announced it expects full year 2020 net revenue, adjusted operating income and adjusted EBITDA to exceed the expectations Corsair provided on November 10, 2020.

The one-year Corsair Gaming Inc. stock forecast points to a potential downside of -15.02. The average equity rating for CRSR stock is currently 1.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $3.68 billion, with 84.87 million shares outstanding and 17.94 million shares in the current float. Compared to the average trading volume of 3.12M shares, CRSR stock reached a trading volume of 3361877 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Corsair Gaming Inc. [CRSR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CRSR shares is $31.56 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CRSR stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for Corsair Gaming Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on December 02, 2020. While these analysts kept the previous recommendation, Wedbush raised their target price from $25 to $30. The new note on the price target was released on November 04, 2020, representing the official price target for Corsair Gaming Inc. stock. Previously, the target price had yet another raise to $33, while DA Davidson analysts kept a Buy rating on CRSR stock.

The Average True Range (ATR) for Corsair Gaming Inc. is set at 4.01, with the Price to Sales ratio for CRSR stock in the period of the last 12 months amounting to 2.50. The Price to Book ratio for the last quarter was 7.93, with the Price to Cash per share for the same quarter was set at 1.15.

CRSR Stock Performance Analysis:

Corsair Gaming Inc. [CRSR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.19.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CRSR stock in for the last two-week period is set at 54.65, with the RSI for the last a single of trading hit 50.44, and the three-weeks RSI is set at 57.52 for Corsair Gaming Inc. [CRSR], while it was recorded at 37.58 for the last single week of trading.

Insight into Corsair Gaming Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Corsair Gaming Inc. [CRSR] shares currently have an operating margin of +2.79 and a Gross Margin at +17.71. Corsair Gaming Inc.’s Net Margin is presently recorded at -0.77.

Return on Total Capital for CRSR is now 4.69, given the latest momentum, and Return on Invested Capital for the company is -1.31. Return on Equity for this stock declined to -4.42, with Return on Assets sitting at -0.90. When it comes to the capital structure of this company, Corsair Gaming Inc. [CRSR] has a Total Debt to Total Equity ratio set at 233.34. Additionally, CRSR Total Debt to Total Capital is recorded at 70.00, with Total Debt to Total Assets ending up at 47.73. Long-Term Debt to Equity for the company is recorded at 232.24, with the Long-Term Debt to Total Capital now at 69.67.

Reflecting on the efficiency of the workforce at the company, Corsair Gaming Inc. [CRSR] managed to generate an average of -$4,958 per employee. Receivables Turnover for the company is 6.76 with a Total Asset Turnover recorded at a value of 1.17.Corsair Gaming Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.40.

Corsair Gaming Inc. [CRSR] Insider Position Details

There are presently around $444 million, or 91.00% of CRSR stock, in the hands of institutional investors. The top three institutional holders of CRSR stocks are: BLACKROCK INC. with ownership of 2,161,360, which is approximately New of the company’s market cap and around 4.20% of the total institutional ownership; JPMORGAN CHASE & CO, holding 1,959,885 shares of the stock with an approximate value of $71.14 million in CRSR stocks shares; and CITADEL ADVISORS LLC, currently with $68.75 million in CRSR stock with ownership of nearly New of the company’s market capitalization.

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Positions in Corsair Gaming Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 42 institutional holders increased their position in Corsair Gaming Inc. [NASDAQ:CRSR] by around 12,241,703 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 12,241,703 shares, according to the latest SEC report filing. CRSR stock had 42 new institutional investments in for a total of 12,241,703 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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