The trading price of Corsair Gaming Inc (NASDAQ:CRSR) closed lower on Monday, March 03, and closing at $10.97, -6.56% lower than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $13.18 and a 52-week low of $5.59. Over the past month, the stock has gained 18.08% in value.
Corsair Gaming Inc, whose market valuation is $1.15 billion at the time of this writing, is expected to release its quarterly earnings report in April. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 0.12 per share this quarter, however they have predicted annual earnings per share of 0.52 for current year and 0.77 for next year.
Analysts have forecast the company to bring in revenue of 366.2M for the current quarter, with the likely lows of 347.95M and highs of 383.17M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 1.5B.
On the technical side, indicators suggest CRSR has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 50% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned CRSR a recommendation rating is 2. Out of them, 1 rate it a Hold, while 1 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Corsair Gaming Inc (CRSR) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that CRSR’s price is currently -0.23% off the SMA20 and 21.56% off the SMA50. The RSI metric on the 14-day chart is currently showing 53.55, and weekly volatility stands at 7.60%. When measured over the past 30 days, the indicator reaches 7.05%. Corsair Gaming Inc (NASDAQ:CRSR)’s beta value is currently sitting at 1.60, while the Average True Range indicator is currently displaying 0.74. With analysts defining $8-$8 as the low and high price targets, we arrive at a consensus price target of $8 for the trailing 12-month period. The current price is about 27.07% off the estimated low and 27.07% off the forecast high, based on this estimate. Investors will be thrilled if CRSR’s share price rises to $8, which is the median consensus price. At that level, CRSR’s share price would be 27.07% above current price.
To see how Corsair Gaming Inc stock has been performing in comparison to its peers in the industry, here are the numbers: CRSR stock’s performance was -6.56% in the latest trading, and -14.23% in the past year, while Microsoft Corp. (MSFT) has traded -2.14%% on the day and positioned -6.37% lower than it was a year ago. Another comparable company Micron Technology Inc. (MU) saw its stock close -3.30%% lower in the most recent trading session but was down -5.46% in a year.
An evaluation of the daily trading volume of Corsair Gaming Inc (NASDAQ:CRSR) indicates that the 3-month average is 960.54K.
Currently, records show that 104.76 million of the company’s shares remain outstanding. The insiders hold 57.56% of outstanding shares, whereas institutions hold 33.12%. However, since the stock’s price has seen 65.96% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
