Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Corsair Gaming Inc. shares valued at $1,143,000 were purchased by Szteinbaum Samuel R. on May 11. At $14.29 per share, Szteinbaum Samuel R. acquired 80,000 shares. The insider’s holdings grew to 237,269 shares worth approximately $3.01 million following the completion of this transaction.
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As published in a research note from Wedbush on February 09, 2022, Corsair Gaming Inc. [CRSR] has been retained to an Outperform and the price target has been revised to $28. This represents a 54.75% premium over Wednesday’s closing price. Analysts at Macquarie resumed the stock at ‘”an Outperform”‘ outlook in a report released in early February. As of February 09, 2022, Credit Suisse has reiterated its “Neutral” rating for CRSR. Earlier on February 09, 2022, Barclays resumed its rating. Their recommendation was “an Overweight” for CRSR stock.
Analyzing CRSR Stock Performance
On Wednesday, Corsair Gaming Inc. [NASDAQ: CRSR] plunged -6.08% to $12.67. The stock’s lowest price that day was $12.51, but it reached a high of $13.50 in the same session. During the last five days, there has been a drop of approximately -5.87%. Over the course of the year, Corsair Gaming Inc. shares have dropped approximately -39.70%. Shares of the company reached a 52-week high of $23.98 on 02/16/22 and a 52-week low of $10.96 on 10/13/22. A 50-day SMA is recorded $13.25, while a 200-day SMA reached $16.42. Nevertheless, trading volume fell to 0.56 million shares from 0.55 million shares the previous day.
Support And Resistance Levels for Corsair Gaming Inc. (CRSR)
According to the 24-hour chart, there is a support level at 12.29, which, if violated, would cause prices to drop to 11.90. In the upper region, resistance lies at 13.28. The next price resistance is at 13.88. RSI (Relative Strength Index) is 48.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.63, which suggests the price will decrease in the coming days. Percent R is at 53.90%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Corsair Gaming Inc. subject to short interest?
Stocks of Corsair Gaming Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.59 million shares to 8.02 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.43 million shares. A jump of 7.36% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 12.97 of the overall float, the days-to-cover ratio (short ratio) jumped to 12.97.
Which companies own the most shares of Corsair Gaming Inc. (CRSR)?
According to BlackRock Fund Advisors filings, the company currently owns 5,010,375 shares, which is about 5.23% of the total CRSR shares outstanding. The investor’s shares have appreciated by 523,478 from its previous 13-F filing of 4486897.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $46,066,154. Massachusetts Financial Services acquire a 5.39% interest valued at $18.42 million while SSgA Funds Management, Inc. purchased a 58,909 stake. A total of 340,385 shares of Corsair Gaming Inc. were bought by Palisade Capital Management LLC during the quarter, and 164,179 were bought by Geode Capital Management LLC. In its current portfolio, Citadel Advisors LLC holds 547,574 shares valued at $6.21 million.
In terms of Corsair Gaming Inc. share price expectations, FactSet research, analysts set an average price target of $17.75 in the next 12 months, up nearly 29.73% from the previous closing price of $13.49. Analysts anticipate Corsair Gaming Inc. stock to reach $20.00 by 2022, with the lowest price target being $16.00. In spite of this, 8 analysts ranked Corsair Gaming Inc. stock as an Overweight at the end of 2022. On January 21, 2022, DA Davidson assigned a price target of “a Buy” to the stock and resumed coverage with a $36.