Cricut, Inc. (NASDAQ:CRCT) Short Interest Down 5.1% in October

by · The Markets Daily

Cricut, Inc. (NASDAQ:CRCT – Get Free Report) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 3,570,000 shares, a drop of 5.1% from the October 15th total of 3,760,000 shares. Based on an average daily volume of 374,400 shares, the days-to-cover ratio is currently 9.5 days. Approximately 8.0% of the company’s stock are short sold.

Cricut Stock Down 2.3 %

NASDAQ:CRCT opened at $5.05 on Monday. Cricut has a twelve month low of $4.43 and a twelve month high of $8.40. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 18.04 and a beta of 0.13. The stock’s 50 day moving average price is $6.32 and its two-hundred day moving average price is $6.22.

Cricut (NASDAQ:CRCT – Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). Cricut had a net margin of 8.47% and a return on equity of 12.36%. The business had revenue of $167.89 million during the quarter, compared to the consensus estimate of $165.35 million. During the same quarter in the prior year, the company earned $0.08 EPS. As a group, analysts anticipate that Cricut will post 0.28 earnings per share for the current year.

Cricut Dividend Announcement

The company also recently announced a None dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.50 per share. This represents a dividend yield of 3.4%. The ex-dividend date is Tuesday, January 7th. Cricut’s dividend payout ratio is currently 71.43%.

Wall Street Analysts Forecast Growth

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

Get Our Latest Stock Analysis on Cricut

Insider Buying and Selling at Cricut

In related news, EVP Donald B. Olsen sold 40,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $5.74, for a total transaction of $229,600.00. Following the completion of the transaction, the executive vice president now directly owns 655,833 shares in the company, valued at approximately $3,764,481.42. This trade represents a 5.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 18.02% of the company’s stock.

Hedge Funds Weigh In On Cricut

Hedge funds have recently bought and sold shares of the business. CWM LLC lifted its position in Cricut by 150.8% during the second quarter. CWM LLC now owns 9,704 shares of the company’s stock worth $58,000 after purchasing an additional 5,835 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Cricut by 9,096.7% during the 1st quarter. Lazard Asset Management LLC now owns 13,795 shares of the company’s stock worth $65,000 after acquiring an additional 13,645 shares during the period. Burns Matteson Capital Management LLC acquired a new stake in shares of Cricut during the 3rd quarter worth approximately $70,000. Arizona State Retirement System increased its stake in Cricut by 20.8% in 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 last quarter. Finally, Bleakley Financial Group LLC acquired a new position in Cricut during the first quarter valued at approximately $78,000. 19.60% of the stock is owned by institutional investors.

Cricut Company Profile

(Get Free Report)

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.

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