Cricut (NASDAQ:CRCT) Shares Down 4.3% – What’s Next?

Cricut, Inc. (NASDAQ:CRCT) fell 4.3% during trading on Friday . The company traded as low as $5.02 and last traded at $4.9850. 100,427 shares were traded during mid-day trading, a decline of 81% from the average session volume of 538,303 shares. The stock had previously closed at $5.21.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CRCT shares. The Goldman Sachs Group lowered shares of Cricut from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $5.50 to $4.75 in a research report on Thursday, October 16th. Wall Street Zen lowered shares of Cricut from a “buy” rating to a “hold” rating in a research note on Saturday, November 29th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Cricut in a research report on Monday. One equities research analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cricut has an average rating of “Strong Sell” and a consensus price target of $4.18.

Cricut Price Performance

The stock’s fifty day moving average is $5.01 and its 200-day moving average is $5.67. The stock has a market capitalization of $1.07 billion, a PE ratio of 13.33 and a beta of 0.18.

Cricut (NASDAQ:CRCT) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. The company had revenue of $170.44 million during the quarter, compared to analysts’ expectations of $156.93 million. Cricut had a net margin of 11.31% and a return on equity of 19.91%. On average, analysts forecast that Cricut, Inc. will post 0.28 EPS for the current year.

Cricut Dividend Announcement

The firm also recently declared a dividend, which will be paid on Tuesday, January 20th. Investors of record on Tuesday, January 6th will be paid a $0.10 dividend. This represents a dividend yield of 399.0%. The ex-dividend date is Tuesday, January 6th. Cricut’s payout ratio is currently 52.63%.

Insiders Place Their Bets

In other Cricut news, CEO Arora Ashish sold 60,000 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $4.83, for a total transaction of $289,800.00. Following the transaction, the chief executive officer owned 4,430,441 shares in the company, valued at approximately $21,399,030.03. This represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 301,353 shares of company stock valued at $1,601,722. Corporate insiders own 18.61% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CRCT. Osaic Holdings Inc. lifted its position in shares of Cricut by 255.9% during the 2nd quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock valued at $25,000 after buying an additional 2,620 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Cricut during the third quarter worth $68,000. Olympiad Research LP acquired a new position in Cricut during the third quarter worth $74,000. Vanguard Personalized Indexing Management LLC purchased a new position in Cricut during the second quarter valued at $80,000. Finally, Brevan Howard Capital Management LP acquired a new stake in shares of Cricut in the third quarter valued at about $75,000. 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.