Cricut (NASDAQ:CRCT) Stock Price Up 5.2% – What’s Next?

Cricut, Inc. (NASDAQ:CRCT)’s stock price rose 5.2% on Monday . The company traded as high as $5.47 and last traded at $5.46. Approximately 65,632 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 676,353 shares. The stock had previously closed at $5.19.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group decreased their target price on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating for the company in a report on Wednesday, November 6th.

Cricut Price Performance

The company has a market cap of $1.17 billion, a PE ratio of 19.39 and a beta of 0.13. The stock has a fifty day moving average price of $6.14 and a 200-day moving average price of $6.11.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Cricut had a return on equity of 12.36% and a net margin of 8.47%. The business had revenue of $167.89 million for the quarter, compared to analyst estimates of $165.35 million. During the same quarter in the previous year, the business posted $0.08 earnings per share. On average, equities analysts anticipate that Cricut, Inc. will post 0.28 earnings per share for the current year.

Cricut Dividend Announcement

The business also recently announced a None dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a yield of 3.4%. Cricut’s payout ratio is 71.43%.

Insider Buying and Selling at Cricut

In other news, EVP Donald B. Olsen sold 30,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $5.23, for a total transaction of $156,900.00. Following the transaction, the executive vice president now owns 625,833 shares of the company’s stock, valued at approximately $3,273,106.59. This represents a 4.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Arora Ashish sold 54,839 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $5.29, for a total value of $290,098.31. Following the sale, the chief executive officer now directly owns 3,980,294 shares of the company’s stock, valued at $21,055,755.26. The trade was a 1.36 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC raised its stake in Cricut by 150.8% during the 2nd quarter. CWM LLC now owns 9,704 shares of the company’s stock valued at $58,000 after purchasing an additional 5,835 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Cricut by 9,096.7% in the first quarter. Lazard Asset Management LLC now owns 13,795 shares of the company’s stock valued at $65,000 after buying an additional 13,645 shares during the period. Burns Matteson Capital Management LLC acquired a new stake in Cricut during the third quarter worth about $70,000. Arizona State Retirement System increased its stake in Cricut by 20.8% during the second quarter. Arizona State Retirement System now owns 12,199 shares of the company’s stock valued at $73,000 after acquiring an additional 2,103 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Cricut in the 3rd quarter valued at approximately $93,000. Institutional investors and hedge funds own 19.60% of the company’s stock.

Cricut Company Profile

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.