Corsair Gaming Inc. [NASDAQ: CRSR] jumped around 0.27 points on Wednesday, while shares priced at $27.40 at the close of the session, up 1.00%. The company report on August 3, 2021 that Corsair Gaming Reports Second Quarter 2021 Financial Results.
Reports Record Second Quarter Revenue and Profit.
Corsair Gaming, Inc. (NASDAQ:CRSR) (“Corsair”), a leading global provider and innovator of high-performance gear for gamers and content creators, announced financial results for the second quarter ended June 30, 2021.
Corsair Gaming Inc. stock is now -24.35% down from its year-to-date (YTD) trading value. CRSR Stock saw the intraday high of $27.90 and lowest of $26.44 per share. The company’s 52-week high price is 51.37, which means current price is +4.74% above from all time high which was touched on 01/27/21.
Compared to the average trading volume of 3.22M shares, CRSR reached a trading volume of 4410536 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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.
Credit Suisse have made an estimate for Corsair Gaming Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 04, 2021. While these analysts kept the previous recommendation, Goldman raised their target price from $35 to $44. The new note on the price target was released on February 10, 2021, representing the official price target for Corsair Gaming Inc. stock. Previously, the target price had yet another raise from $32 to $37, while Cowen kept a Market Perform rating on CRSR stock. On November 04, 2020, analysts increased their price target for CRSR shares from 25 to 30.
The Average True Range (ATR) for Corsair Gaming Inc. is set at 1.18, with the Price to Sales ratio for CRSR stock in the period of the last 12 months amounting to 1.32. The Price to Book ratio for the last quarter was 5.17, with the Price to Cash per share for the same quarter was set at 1.31.
How has CRSR stock performed recently?
Corsair Gaming Inc. [CRSR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.48. With this latest performance, CRSR shares dropped by -14.46% in over the last four-week period, additionally sinking by -36.04% 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 30.83, with the RSI for the last a single of trading hit 25.97, and the three-weeks RSI is set at 34.86 for Corsair Gaming Inc. [CRSR]. The present Moving Average for the last 50 days of trading for this stock 31.47, while it was recorded at 28.41 for the last single week of trading, and 33.92 for the last 200 days.
Corsair Gaming Inc. [CRSR]: Deeper insight into the fundamentals
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.
Earnings analysis for Corsair Gaming Inc. [CRSR]
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%.
Insider trade positions for Corsair Gaming Inc. [CRSR]
There are presently around $267 million, or 69.70% 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 3.30% of the total institutional ownership; VANGUARD GROUP INC, holding 2,044,173 shares of the stock with an approximate value of $56.01 million in CRSR stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $19.54 million in CRSR stock with ownership of nearly 4.994% of the company’s market capitalization.
Positions in Corsair Gaming Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 88 institutional holders increased their position in Corsair Gaming Inc. [NASDAQ:CRSR] by around 2,937,457 shares. Additionally, 51 investors decreased positions by around 2,949,366 shares, while 15 investors held positions by with 3,844,469 shares. The mentioned changes placed institutional holdings at 9,731,292 shares, according to the latest SEC report filing. CRSR stock had 50 new institutional investments in for a total of 867,372 shares, while 32 institutional investors sold positions of 1,084,411 shares during the same period.