Cricut, Inc. (NASDAQ:CRCT) Receives Consensus Recommendation of “Strong Sell” from Brokerages
by Sarita Garza · The Markets DailyCricut, Inc. (NASDAQ:CRCT – Get Free Report) has earned an average recommendation of “Strong Sell” from the five research firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation and one has given a hold recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $3.6667.
A number of brokerages have recently issued reports on CRCT. Barclays restated an “underweight” rating and set a $4.00 price objective on shares of Cricut in a research report on Wednesday, March 4th. UBS Group reiterated a “cautious” rating on shares of Cricut in a report on Wednesday, March 4th. The Goldman Sachs Group reduced their target price on Cricut from $3.50 to $3.00 and set a “sell” rating on the stock in a report on Wednesday, January 14th. Finally, Weiss Ratings upgraded shares of Cricut from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, March 5th.
Get Our Latest Research Report on CRCT
Cricut Stock Up 2.6%
Shares of Cricut stock opened at $4.00 on Friday. The stock has a market cap of $847.12 million, a price-to-earnings ratio of 11.11 and a beta of 0.23. Cricut has a twelve month low of $3.73 and a twelve month high of $7.33. The company’s fifty day moving average is $4.30 and its 200 day moving average is $4.89.
Cricut (NASDAQ:CRCT – Get Free Report) last announced its earnings results on Wednesday, March 4th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Cricut had a return on equity of 20.44% and a net margin of 10.82%.The business had revenue of $203.60 million during the quarter, compared to analyst estimates of $202.22 million. As a group, equities analysts anticipate that Cricut will post 0.28 earnings per share for the current fiscal year.
Insider Buying and Selling at Cricut
In other news, CEO Arora Ashish sold 13,458 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $4.25, for a total transaction of $57,196.50. Following the completion of the sale, the chief executive officer directly owned 3,724,995 shares in the company, valued at $15,831,228.75. This represents a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 235,124 shares of company stock worth $1,064,443 in the last ninety days. Corporate insiders own 18.61% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in CRCT. Tudor Investment Corp ET AL lifted its stake in Cricut by 824.0% in the third quarter. Tudor Investment Corp ET AL now owns 358,213 shares of the company’s stock valued at $2,253,000 after buying an additional 319,447 shares during the period. American Century Companies Inc. increased its stake in shares of Cricut by 11.5% in the 2nd quarter. American Century Companies Inc. now owns 1,544,659 shares of the company’s stock valued at $10,457,000 after acquiring an additional 159,339 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Cricut in the 3rd quarter valued at $1,324,000. Geode Capital Management LLC lifted its position in shares of Cricut by 7.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,395,525 shares of the company’s stock valued at $9,449,000 after acquiring an additional 91,339 shares during the period. Finally, XTX Topco Ltd lifted its position in shares of Cricut by 73.4% during the 2nd quarter. XTX Topco Ltd now owns 97,082 shares of the company’s stock valued at $657,000 after acquiring an additional 41,079 shares during the period. 19.60% of the stock is owned by institutional investors and hedge funds.
About Cricut
Cricut, Inc (NASDAQ: CRCT) is a U.S.-based technology company specializing in personal and small-business crafting solutions. The company designs and markets a family of cutting machines that leverage computer-aided design to precisely cut a wide range of materials, including paper, vinyl, fabric and leather. Complementing its hardware offerings, Cricut provides proprietary software and mobile applications that enable users to create custom artwork, import graphics and access a vast library of pre-designed projects and fonts through a subscription service.
Founded as a division of Provo Craft & Novelty in 2005, Cricut emerged as an independent public company in March 2021.