Why Buy stock in Corsair Gaming, Inc. (CRSR)? – Marketing Sentinel

Why Buy stock in Corsair Gaming, Inc. (CRSR)?

Corsair Gaming, Inc. (NASDAQ:CRSR) has a beta value of 0 and has seen 2,420,944 shares traded in the recent trading session. The company, currently valued at $2.91 Billion, closed the recent trade at $31.35 per share which meant it lost -$2.09 on the day or -6.25% during that session. The CRSR stock price is -63.86% off its 52-week high price of $51.37 and 55.06% above the 52-week low of $14.09. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.34 Million shares traded. The 3-month trading volume is 3.07 Million shares.

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The consensus among analysts is that Corsair Gaming, Inc. (CRSR) is a Buy stock at the moment, with a recommendation rating of 1.9. None of the analysts rate the stock as a Sell, while 1 rate it as Overweight. 1 out of 9 have rated it as a Hold, with 7 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.33.

Corsair Gaming, Inc. (NASDAQ:CRSR) trade information

Despite being -6.25% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Wednesday, Apr 28 when the CRSR stock price touched $34.38- or saw a rise of 8.51%. Year-to-date, Corsair Gaming, Inc. shares have moved -13.16%, while the 5-day performance has seen it change -7.1%. Over the past 30 days, the shares of Corsair Gaming, Inc. (NASDAQ:CRSR) have changed -7.13%. Short interest in the company has seen 5.41 Million shares shorted with days to cover at 1.76.

Wall Street analysts have a consensus price target for the stock at $48.33, which means that the shares’ value could jump 54.16% from the levels at last check today. The projected low price target is $37 while the price target rests at a high of $55. In that case, then, we find that the latest price level in today’s session is +75.44% off the targeted high while a plunge would see the stock lose 18.02% from the levels at last check today.

Corsair Gaming, Inc. (CRSR) estimates and forecasts

Earnings growth for 2021 is a modest -3.1% while over the next 5 years, the company’s earnings are expected to increase by 9.02%.

Corsair Gaming, Inc. (NASDAQ:CRSR)’s Major holders

Insiders own 4.12% of the company shares, while shares held by institutions stand at 78.19% with a share float percentage of 81.55%. Investors are also buoyed by the number of investors in a company, with Corsair Gaming, Inc. having a total of 153 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 2.46 Million shares worth more than $89Million. As of December 30, 2020, Blackrock Inc. held 2.67% of shares outstanding.

The other major institutional holder is JP Morgan Chase & Company, with the holding of over 1.3 Million shares as of December 30, 2020. The firm’s total holdings are worth over $47.11 Million and represent 1.41% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund. As of March 30, 2021, the former fund manager holds about 0.62% shares in the company for having 568783 shares of worth $18.93 Million while later fund manager owns 376.77 Thousand shares of worth $13.65 Million as of December 30, 2020, which makes it owner of about 0.41% of company’s outstanding stock.

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