Cricut, Inc. (NASDAQ:CRCT) Short Interest Update

Cricut, Inc. (NASDAQ:CRCT) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 4,300,000 shares, a growth of 15.3% from the November 30th total of 3,730,000 shares. Currently, 9.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 342,800 shares, the days-to-cover ratio is presently 12.5 days.

Insider Buying and Selling

In related news, EVP Donald B. Olsen sold 30,000 shares of the stock in a transaction on Monday, November 25th. The shares were 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 trade represents a 4.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arora Ashish sold 21,250 shares of Cricut stock in a transaction on Friday, December 20th. The stock was sold at an average price of $5.94, for a total transaction of $126,225.00. Following the completion of the transaction, the chief executive officer now owns 3,780,840 shares in the company, valued at approximately $22,458,189.60. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 210,549 shares of company stock worth $1,199,555 in the last quarter. 18.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Cricut

Several institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in shares of Cricut by 296.2% during the third quarter. JPMorgan Chase & Co. now owns 185,098 shares of the company’s stock valued at $1,283,000 after buying an additional 138,385 shares during the period. American Century Companies Inc. boosted its holdings in Cricut by 42.7% in the second quarter. American Century Companies Inc. now owns 453,014 shares of the company’s stock valued at $2,714,000 after acquiring an additional 135,539 shares in the last quarter. Tenzing Global Management LLC increased its position in Cricut by 4.9% during the 3rd quarter. Tenzing Global Management LLC now owns 2,150,000 shares of the company’s stock valued at $14,900,000 after purchasing an additional 100,000 shares during the period. Algert Global LLC bought a new position in Cricut in the 2nd quarter worth $558,000. Finally, Martingale Asset Management L P lifted its position in shares of Cricut by 258.6% in the 3rd quarter. Martingale Asset Management L P now owns 125,846 shares of the company’s stock worth $872,000 after purchasing an additional 90,757 shares during the period. Hedge funds and other institutional investors own 19.60% of the company’s stock.

Cricut Stock Performance

Shares of Cricut stock opened at $5.70 on Wednesday. Cricut has a 52-week low of $4.43 and a 52-week high of $8.40. The company’s 50 day moving average price is $5.84 and its 200-day moving average price is $6.01. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 20.36 and a beta of 0.03.

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

Cricut Announces Dividend

The firm also recently declared a None dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be issued 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%.

Analyst Upgrades and Downgrades

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

About Cricut

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.