Cricut (NASDAQ:CRCT) Shares Down 4.4%

Cricut, Inc. (NASDAQ:CRCT) traded down 4.4% on Monday . The company traded as low as $6.11 and last traded at $6.11. 56,276 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 828,439 shares. The stock had previously closed at $6.39.

Cricut Price Performance

The firm has a 50-day moving average of $6.12 and a 200-day moving average of $5.68. The stock has a market cap of $1.32 billion, a PE ratio of 21.03 and a beta of 0.11.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.04. The business had revenue of $167.95 million during the quarter, compared to analyst estimates of $175.68 million. Cricut had a net margin of 8.54% and a return on equity of 12.25%. During the same period last year, the firm posted $0.07 EPS. Equities analysts forecast that Cricut, Inc. will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other Cricut news, CEO Arora Ashish sold 53,301 shares of Cricut stock in a transaction on Monday, August 12th. The shares were sold at an average price of $5.79, for a total value of $308,612.79. Following the sale, the chief executive officer now directly owns 2,637,243 shares in the company, valued at approximately $15,269,636.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 155,258 shares of company stock worth $972,559. 18.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Cricut

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Cricut by 10.9% during the 1st quarter. Vanguard Group Inc. now owns 3,658,790 shares of the company’s stock worth $17,416,000 after acquiring an additional 360,080 shares in the last quarter. American Century Companies Inc. raised its stake in Cricut by 42.7% during the second quarter. American Century Companies Inc. now owns 453,014 shares of the company’s stock valued at $2,714,000 after purchasing an additional 135,539 shares in the last quarter. GSA Capital Partners LLP lifted its position in Cricut by 584.2% during the first quarter. GSA Capital Partners LLP now owns 423,849 shares of the company’s stock valued at $2,018,000 after purchasing an additional 361,904 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Cricut by 4.9% in the 2nd quarter. Renaissance Technologies LLC now owns 386,100 shares of the company’s stock worth $2,313,000 after buying an additional 17,958 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Cricut by 9.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 215,099 shares of the company’s stock worth $1,288,000 after buying an additional 18,939 shares during the last quarter. Hedge funds and other institutional investors own 19.60% of the company’s stock.

About Cricut

Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.