Market cap of Corsair Gaming Inc. [CRSR] reaches 3.03B – now what?

Corsair Gaming Inc. [NASDAQ: CRSR] loss -0.38% or -0.12 points to close at $31.79 with a heavy trading volume of 3135720 shares. The company report on June 8, 2021 that Elgato Launches Stream Deck 5.0 App Update with a New Store Featuring Plugins, Music, Sound Effects, and Icon Packs.

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Elgato, a leading provider of hardware and software for streamers and content creators, along with parent company Corsair Gaming, Inc. (NASDAQ:CRSR) (“CORSAIR”), announced the launch of Stream Deck 5.0, a major app update that introduces the Stream Deck Store, an online distribution platform for plugins, icon packs, tutorial videos, and pro tips, plus thousands of royalty-free music tracks and sound effects. Stream Deck 5.0 is available as a free update.

Stream Deck, Elgato’s widely popular tactile interface with fully customizable LCD keys, makes it easier for content creators to control their myriad apps and tools with a tap of a key. Now, in addition to enhancing the entire Stream Deck experience, the Stream Deck Store is empowering creators with a wealth of digital assets they can use to enrich their content and ultimately boost their streams’ production values. The Stream Deck Store includes five sections: Discover, Plugins, Icons, Music, and Sound Effects.

It opened the trading session at $31.63, the shares rose to $32.45 and dropped to $31.4091, the range by which the price of stock traded the whole day. The daily chart for CRSR points out that the company has recorded -17.86% loss over the past six months. However, it is still -125.62% lower than its most recent low trading price.

If we look at the average trading volume of 2.73M shares, CRSR reached to a volume of 3135720 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $46.67 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 1.90. 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.

Goldman have made an estimate for Corsair Gaming Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 10, 2021. While these analysts kept the previous recommendation, Cowen raised their target price from $32 to $37. The new note on the price target was released on December 02, 2020, representing the official price target for Corsair Gaming Inc. stock. Previously, the target price had yet another raise from $25 to $30, while Wedbush kept a Outperform rating on CRSR stock.

The Average True Range (ATR) for Corsair Gaming Inc. is set at 1.88, with the Price to Sales ratio for CRSR stock in the period of the last 12 months amounting to 1.58. The Price to Book ratio for the last quarter was 6.00, with the Price to Cash per share for the same quarter was set at 1.27.

Trading performance analysis for CRSR stock

Corsair Gaming Inc. [CRSR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.28. With this latest performance, CRSR shares gained by 0.51% in over the last four-week period, additionally sinking by -17.86% over the last 6 months.

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 45.79, with the RSI for the last a single of trading hit 43.25, and the three-weeks RSI is set at 46.72 for Corsair Gaming Inc. [CRSR]. The present Moving Average for the last 50 days of trading for this stock 32.69, while it was recorded at 32.41 for the last single week of trading.

Corsair Gaming Inc. [CRSR]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Corsair Gaming Inc. [CRSR] shares currently have an operating margin of +9.42 and a Gross Margin at +25.58. Corsair Gaming Inc.’s Net Margin is presently recorded at +6.06.

Return on Total Capital for CRSR is now 21.52, given the latest momentum, and Return on Invested Capital for the company is 13.96. Return on Equity for this stock inclined to 31.56, with Return on Assets sitting at 8.70. When it comes to the capital structure of this company, Corsair Gaming Inc. [CRSR] has a Total Debt to Total Equity ratio set at 75.55. Additionally, CRSR Total Debt to Total Capital is recorded at 43.04, with Total Debt to Total Assets ending up at 25.15. Long-Term Debt to Equity for the company is recorded at 73.48, with the Long-Term Debt to Total Capital now at 41.86.

Reflecting on the efficiency of the workforce at the company, Corsair Gaming Inc. [CRSR] managed to generate an average of $42,811 per employee. Receivables Turnover for the company is 6.86 with a Total Asset Turnover recorded at a value of 1.43.Corsair Gaming Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.40.

Corsair Gaming Inc. [CRSR]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CRSR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Corsair Gaming Inc. go to 10.63%.

An analysis of insider ownership at Corsair Gaming Inc. [CRSR]

There are presently around $306 million, or 77.90% of CRSR stock, in the hands of institutional investors. The top three institutional holders of CRSR stocks are: BLACKROCK INC. with ownership of 2,698,189, which is approximately 9.812% of the company’s market cap and around 3.80% of the total institutional ownership; VANGUARD GROUP INC, holding 2,044,173 shares of the stock with an approximate value of $64.98 million in CRSR stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $22.67 million in CRSR stock with ownership of nearly 4.994% 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 May and at the time of the May reporting period, where 80 institutional holders increased their position in Corsair Gaming Inc. [NASDAQ:CRSR] by around 2,905,159 shares. Additionally, 55 investors decreased positions by around 3,008,337 shares, while 9 investors held positions by with 3,718,559 shares. The mentioned changes placed institutional holdings at 9,632,055 shares, according to the latest SEC report filing. CRSR stock had 42 new institutional investments in for a total of 788,028 shares, while 34 institutional investors sold positions of 1,117,216 shares during the same period.

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