Corsair Gaming Inc. (CRSR): A Technical View


As of Wednesday close, Corsair Gaming Inc.’s (NASDAQ:CRSR) stock was up $0.39, moving up 2.37 percent to $16.85. The average number of shares traded per day over the past five days has been 539,820 shares. 2 times new highs have been achieved over the past 5 days, with a $0.41 gain in that time frame. In the last twenty days, the average volume was 867,495, while in the previous 50 days, it was 684,012.

Since last month, CRSR stock rose 26.79%. Shares of the company fell to $11.99 on 10/24/22, the lowest level in the past month. A 52-week high of $23.99 was reached on 02/16/22 after having rallying from a 52-week low of $10.96. Since the beginning of this year, CRSR’s stock price has dropped by -19.80% or -$4.16, and marked a new high 3 times. However, the stock has declined by -29.76% since its 52-week high.

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CRSR stock investors should be aware that Corsair Gaming Inc. (CRSR) stock had its last reported insider trading activity 9 days ago on Nov 15. MAJOROS GEORGE L. Jr., the Director of the company, purchased of 2,121,212 shares for $16.50 on Nov 15. It resulted in a $34,999,998 investment by the insider. Bagaria Anup added 2,121,212 shares at an average price of $16.50 on Nov 15. The insider now owns 56,300,771 shares following the transaction. On Nov 15, 10% Owner Corsair Group (Cayman), LP bought 2,121,212 shares at $16.50 apiece. The transaction was valued at $34,999,998.

Financial Health

In the three months ended June 29, 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 June 29 was 0.46, and the total debt-to-equity ratio was 0.47. On the profitability front, the trailing twelve-month gross margin is 21.60% percent. In the year ended June 29, operating margins totaled -2.90%. 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 June 29, it reported total debt of $239.05 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. CRSR’s revenue fell -25.45% to $283.91 million during the quarter, while net income inched up to $311.77 million. While analysts expected Corsair Gaming Inc. to report $0 quarterly earnings, the actual figure was -$0.2 per share. During the quarter, the company generated $2.01 million in EBITDA. The liabilities of Corsair Gaming Inc. were 656.28 million at the end of its most recent quarter ended June 29, and its total debt was $299.29 million. The value of shareholders’ equity is $95.99 million.

Technical Picture

This quick technical analysis looks at Corsair Gaming Inc.’s (CRSR) price momentum. With a historical volatility rate of 62.80%, the RSI 9-day stood at 59.28% on 23 November.

With respect to its five-day moving average, the current Corsair Gaming Inc. price is up by +2.49% percent or $0.41. At present, CRSR shares trade +25.19% above its 20-day simple moving average and +28.43% percent above its 100-day simple moving average. However, the stock is currently trading approximately +20.19% above its SMA50 and -17.48% below its SMA200.

Stochastic coefficient K was 66.30% and Stochastic coefficient D was 68.81%, while ATR was 0.95. Given the Stochastic reading of 67.59% for the 14-day period, the RSI (14) reading has been calculated as 60.06%. As of today, the MACD Oscillator reading stands at -0.44, while the 14-day reading stands at -0.19.

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 50.44% increase in the stock price.


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