Cricut, Inc. (NASDAQ:CRCT) Short Interest Up 6.6% in April

Cricut, Inc. (NASDAQ:CRCT) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 4,050,000 shares, an increase of 6.6% from the March 31st total of 3,800,000 shares. Approximately 9.7% of the company’s stock are short sold. Based on an average trading volume of 842,200 shares, the days-to-cover ratio is currently 4.8 days.

Insider Buying and Selling

In other news, major shareholder Abdiel Capital Management, Llc sold 1,000,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $4.83, for a total transaction of $4,830,000.00. Following the completion of the sale, the insider now owns 5,273,978 shares in the company, valued at approximately $25,473,313.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 18.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cricut

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Cricut by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,200,781 shares of the company’s stock valued at $29,735,000 after buying an additional 133,624 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Cricut by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 189,053 shares of the company’s stock worth $1,756,000 after acquiring an additional 3,900 shares during the period. Strs Ohio raised its position in Cricut by 139.1% during the fourth quarter. Strs Ohio now owns 77,000 shares of the company’s stock valued at $507,000 after acquiring an additional 44,800 shares in the last quarter. Swiss National Bank lifted its holdings in Cricut by 9.2% in the fourth quarter. Swiss National Bank now owns 67,900 shares of the company’s stock valued at $447,000 after acquiring an additional 5,700 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Cricut in the 4th quarter worth approximately $411,000. 19.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRCT has been the subject of several research analyst reports. Barclays decreased their price objective on shares of Cricut from $6.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday, March 7th. The Goldman Sachs Group decreased their price target on shares of Cricut from $7.00 to $5.75 and set a “neutral” rating for the company in a report on Wednesday, March 6th. Finally, Citigroup dropped their price objective on shares of Cricut from $8.50 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th.

Cricut Stock Up 0.8 %

Shares of NASDAQ CRCT opened at $5.36 on Thursday. Cricut has a 52 week low of $4.43 and a 52 week high of $17.89. The business’s 50 day moving average price is $4.98 and its 200 day moving average price is $6.14. The firm has a market cap of $1.16 billion, a P/E ratio of 22.33 and a beta of 0.03.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings data on Tuesday, March 5th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The business had revenue of $231.25 million for the quarter, compared to analyst estimates of $252.67 million. Cricut had a net margin of 7.01% and a return on equity of 9.59%. The business’s revenue was down 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 earnings per share. As a group, research analysts expect that Cricut will post 0.25 earnings per share for the current year.

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.