The stock of Corsair Gaming Inc (CRSR) has gone up by 9.44% for the week, with a -13.89% drop in the past month and a -38.95% drop in the past quarter. The volatility ratio for the week is 3.69%, and the volatility levels for the past 30 days are 5.91% for CRSR. The simple moving average for the past 20 days is 8.22% for CRSR’s stock, with a -38.61% simple moving average for the past 200 days.
Is It Worth Investing in Corsair Gaming Inc (NASDAQ: CRSR) Right Now?
The 36-month beta value for CRSR is at 1.59. Analysts have varying views on the stock, with 2 analysts rating it as a “buy,” 2 rating it as “overweight,” 3 as “hold,” and 0 as “sell.”
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The public float for CRSR is 44.18M, and currently, shorts hold a 6.57% of that float. The average trading volume for CRSR on August 29, 2024 was 580.80K shares.
CRSR) stock’s latest price update
Corsair Gaming Inc (NASDAQ: CRSR)’s stock price has gone rise by 4.43 in comparison to its previous close of 6.77, however, the company has experienced a 9.44% increase in its stock price over the last five trading days. seekingalpha.com reported 2024-08-04 that Corsair Gaming reported sharp revenue and earnings decline in Q2, led by incredibly weak component sales due to macroeconomic reasons, retailer destocking, and anticipation of newer GPU releases in ~Q4. I still believe in a likely mid-term recovery in the segment, but the short-term outlook is still cloudy and incredibly risky with the lowered 2024 financial guidance. Corsair Gaming’s stock has become undervalued considering a component sales recovery, but with the elevated risk profile, I remain with a Hold rating for the time being.
Analysts’ Opinion of CRSR
Many brokerage firms have already submitted their reports for CRSR stocks, with Barclays repeating the rating for CRSR by listing it as a “Equal Weight.” The predicted price for CRSR in the upcoming period, according to Barclays is $21 based on the research report published on October 09, 2023 of the previous year 2023.
Wedbush, on the other hand, stated in their research note that they expect to see CRSR reach a price target of $21, previously predicting the price at $17.50. The rating they have provided for CRSR stocks is “Outperform” according to the report published on July 31st, 2023.
Goldman gave a rating of “Neutral” to CRSR, setting the target price at $20 in the report published on April 17th of the previous year.
CRSR Trading at -16.98% from the 50-Day Moving Average
After a stumble in the market that brought CRSR to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -55.98% of loss for the given period.
Volatility was left at 5.91%, however, over the last 30 days, the volatility rate increased by 3.69%, as shares sank -10.39% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -35.73% lower at present.
During the last 5 trading sessions, CRSR rose by +9.44%, which changed the moving average for the period of 200-days by -42.47% in comparison to the 20-day moving average, which settled at $6.49. In addition, Corsair Gaming Inc saw -49.86% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CRSR starting from Potter Michael G, who sale 1,947 shares at the price of $10.33 back on Jul 05 ’24. After this action, Potter Michael G now owns 70,412 shares of Corsair Gaming Inc, valued at $20,113 using the latest closing price.
La Thi L, the President & COO of Corsair Gaming Inc, sale 3,837 shares at $14.00 during a trade that took place back on Jan 08 ’24, which means that La Thi L is holding 212,994 shares at $53,718 based on the most recent closing price.
Stock Fundamentals for CRSR
Current profitability levels for the company are sitting at:
- -0.02 for the present operating margin
- 0.25 for the gross margin
The net margin for Corsair Gaming Inc stands at -0.03. The total capital return value is set at -0.03. Equity return is now at value -6.04, with -3.05 for asset returns.
Based on Corsair Gaming Inc (CRSR), the company’s capital structure generated 0.23 points at debt to capital in total, while cash flow to debt ratio is standing at 0.0. The debt to equity ratio resting at 0.3. The interest coverage ratio of the stock is -3.3.
Currently, EBITDA for the company is 60.39 million with net debt to EBITDA at 5.68. When we switch over and look at the enterprise to sales, we see a ratio of 0.64. The receivables turnover for the company is 7.31for trailing twelve months and the total asset turnover is 1.12. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.80.
Conclusion
In conclusion, Corsair Gaming Inc (CRSR) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
