Analyzing Corsair Gaming Inc. (CRSR) By Technical Indicators

As of Friday close, Corsair Gaming Inc.’s (NASDAQ:CRSR) stock was up $0.86, moving up 5.56 percent to $16.34. The average number of shares traded per day over the past five days has been 789,080 shares. 5 times new highs have been achieved over the past 5 days, with a $2.24 gain in that time frame. In the last twenty days, the average volume was 589,750, while in the previous 50 days, it was 608,076.

Since last month, CRSR stock rose 21.40%. Shares of the company fell to $12.23 on 07/14/22, the lowest level in the past month. A 52-week high of $30.77 was reached on 02/16/22 after having rallying from a 52-week low of $12.23. Since the beginning of this year, CRSR’s stock price has dropped by -22.23% or -$4.67, and marked a new high 3 times. However, the stock has declined by -46.90% since its 52-week high.

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Corsair Gaming Inc. (CRSR) last reported insider trading activity 87 days ago on May 11. Szteinbaum Samuel R., the Director of the company, purchased of 80,000 shares for $14.29 on May 11. It resulted in a $1,143,000 investment by the insider.

Valuation Metrics

Right now, Corsair Gaming Inc. (CRSR) has a P/E ratio of about 33.42. Besides these, the trailing price-to-sales (P/S) ratio of 0.86, the price-to-book (PB) ratio of 2.68.

Financial Health

In the three months ended March 30, Corsair Gaming Inc.’s quick ratio stood at 0.80, while its current ratio was 1.60, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 0.42, and the total debt-to-equity ratio was 0.42. On the profitability front, the trailing twelve-month gross margin is 25.30% percent. In the year ended March 30, operating margins totaled 3.60%. Based on annual data, CRSR earned $513.85 million in gross profit and brought in $1.9 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 14.60%. Return on equity (ROE) for the past 12 months was 8.90%.

In Corsair Gaming Inc.’s quarter-end financial report for March 30, it reported total debt of $241.71 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. CRSR’s revenue fell -39.07% to $510.62 million during the quarter, while net income inched up to $380.69 million. While analysts expected Corsair Gaming Inc. to report $0.19 quarterly earnings, the actual figure was $0.09 per share, beating the consensus estimate by -52.60%. During the quarter, the company generated -$38.9 million in EBITDA. The liabilities of Corsair Gaming Inc. were 696.28 million at the end of its most recent quarter ended March 30, and its total debt was $304.42 million. The value of shareholders’ equity is $95.79 million.

Technical Picture

This quick technical analysis looks at Corsair Gaming Inc.’s (CRSR) price momentum. With a historical volatility rate of 36.83%, the RSI 9-day stood at 78.65% on 05 August.

With respect to its five-day moving average, the current Corsair Gaming Inc. price is up by +15.89% percent or $2.24. At present, CRSR shares trade +20.77% above its 20-day simple moving average and -8.15% percent below its 100-day simple moving average. However, the stock is currently trading approximately +13.16% above its SMA50 and -35.03% below its SMA200.

Stochastic coefficient K was 95.19% and Stochastic coefficient D was 95.88%, while ATR was 0.82. Given the Stochastic reading of 93.93% for the 14-day period, the RSI (14) reading has been calculated as 69.92%. As of today, the MACD Oscillator reading stands at 1.11, while the 14-day reading stands at 1.39.

Analyst Ratings

Wedbush reiterated its an Outperform rating on Corsair Gaming Inc. (NASDAQ: CRSR) in a note to investors. The analysts firm has however raised their price target to $28, representing a possible 51.94% increase in the stock price. Corsair Gaming Inc. (CRSR) has been rated Overweight by analysts. According to 0 brokerage firms, CRSR is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Corsair Gaming Inc. stock as buy, with 4 recommending it as overweight.

With a median target price of $18.00, the current consensus forecast for the stock is $13.00 – $20.00. Based on these forecasts, analysts predict Corsair Gaming Inc. (CRSR) will achieve an average price target of $17.89.


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