Short Interest in Cricut, Inc. (NASDAQ:CRCT) Decreases By 5.1%

Cricut, Inc. (NASDAQ:CRCT) was the target of a significant drop in short interest during 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 trading volume of 374,400 shares, the days-to-cover ratio is presently 9.5 days. Approximately 8.0% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

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

Insider Activity at Cricut

In other Cricut news, EVP Donald B. Olsen sold 40,000 shares of the business’s 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 owns 655,833 shares of the company’s stock, valued at approximately $3,764,481.42. The trade was a 5.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cricut

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System raised its stake in shares of 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 last quarter. CWM LLC increased its holdings in Cricut by 23.9% in the third quarter. CWM LLC now owns 12,026 shares of the company’s stock valued at $83,000 after purchasing an additional 2,322 shares during the period. Principal Financial Group Inc. raised its position in Cricut by 9.8% during the 2nd quarter. Principal Financial Group Inc. now owns 33,899 shares of the company’s stock worth $203,000 after purchasing an additional 3,034 shares during the last quarter. Rhumbline Advisers raised its position in Cricut by 5.8% during the 2nd quarter. Rhumbline Advisers now owns 62,092 shares of the company’s stock worth $372,000 after purchasing an additional 3,397 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Cricut by 6.8% during the 1st quarter. Swiss National Bank now owns 72,500 shares of the company’s stock worth $345,000 after buying an additional 4,600 shares during the period. 19.60% of the stock is currently owned by institutional investors and hedge funds.

Cricut Stock Up 2.8 %

NASDAQ CRCT opened at $5.19 on Tuesday. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 18.54 and a beta of 0.13. Cricut has a twelve month low of $4.43 and a twelve month high of $8.40. The business’s fifty day moving average is $6.31 and its 200 day moving average is $6.22.

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

Cricut Dividend Announcement

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

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.