Cricut (NASDAQ:CRCT) Hits New 1-Year Low – Here’s What Happened

Shares of Cricut, Inc. (NASDAQ:CRCT) reached a new 52-week low on Friday . The stock traded as low as $4.59 and last traded at $4.75, with a volume of 29168 shares traded. The stock had previously closed at $4.82.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley dropped their target price on Cricut from $3.90 to $3.80 and set an “underweight” rating on the stock in a research report on Thursday, March 6th.

Cricut Stock Up 1.5 %

The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 17.46 and a beta of -0.02. The company’s fifty day moving average is $5.48 and its 200 day moving average is $5.83.

Cricut (NASDAQ:CRCT) last posted its quarterly earnings data on Tuesday, March 4th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $209.31 million during the quarter, compared to the consensus estimate of $214.41 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. On average, equities research analysts forecast that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling at Cricut

In other news, CEO Arora Ashish sold 5,283 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $5.25, for a total value of $27,735.75. Following the completion of the sale, the chief executive officer now owns 4,059,329 shares of the company’s stock, valued at approximately $21,311,477.25. This represents a 0.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 312,509 shares of company stock worth $1,765,519 over the last ninety days. 18.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cricut

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in Cricut by 175.0% during the fourth quarter. Bank of New York Mellon Corp now owns 476,540 shares of the company’s stock worth $2,716,000 after buying an additional 303,236 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Cricut by 25.8% during the 4th quarter. American Century Companies Inc. now owns 1,190,019 shares of the company’s stock worth $6,783,000 after acquiring an additional 244,058 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Cricut during the 4th quarter worth approximately $1,029,000. JPMorgan Chase & Co. increased its holdings in shares of Cricut by 296.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 185,098 shares of the company’s stock worth $1,283,000 after acquiring an additional 138,385 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in Cricut in the 4th quarter valued at $651,000. 19.60% of the stock is owned by institutional investors.

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.