Cricut, Inc. (NASDAQ:CRCT) Given Consensus Recommendation of “Strong Sell” by Brokerages

Cricut, Inc. (NASDAQ:CRCT) has earned a consensus recommendation of “Strong Sell” from the five analysts that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $3.6667.

Several brokerages recently issued reports on CRCT. Weiss Ratings upgraded Cricut from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. Barclays reiterated an “underweight” rating and set a $4.00 target price on shares of Cricut in a research note on Wednesday. The Goldman Sachs Group dropped their target price on shares of Cricut from $3.50 to $3.00 and set a “sell” rating on the stock in a report on Wednesday, January 14th. Wall Street Zen downgraded shares of Cricut from a “buy” rating to a “hold” rating in a research report on Saturday, November 29th. Finally, UBS Group reaffirmed a “cautious” rating on shares of Cricut in a report on Wednesday.

Cricut Stock Down 2.2%

Shares of Cricut stock opened at $4.05 on Wednesday. The business has a 50-day moving average price of $4.56 and a 200 day moving average price of $5.14. Cricut has a fifty-two week low of $3.94 and a fifty-two week high of $7.33. The firm has a market cap of $857.55 million, a P/E ratio of 11.25 and a beta of 0.17.

Cricut (NASDAQ:CRCT) last released its earnings results on Tuesday, March 3rd. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Cricut had a return on equity of 20.44% and a net margin of 10.82%.The company had revenue of $203.60 million for the quarter, compared to the consensus estimate of $202.22 million. As a group, equities research analysts anticipate that Cricut will post 0.28 earnings per share for the current year.

Insider Transactions at Cricut

In other Cricut news, CEO Arora Ashish sold 60,000 shares of Cricut stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $4.28, for a total value of $256,800.00. Following the completion of the transaction, the chief executive officer directly owned 3,738,453 shares in the company, valued at $16,000,578.84. The trade was a 1.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 297,623 shares of company stock valued at $1,380,063 over the last quarter. Company insiders own 18.02% of the company’s stock.

Institutional Investors Weigh In On Cricut

A number of hedge funds have recently made changes to their positions in CRCT. Osaic Holdings Inc. lifted its position in Cricut by 255.9% in the second quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock worth $25,000 after purchasing an additional 2,620 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of Cricut by 57,811.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,212 shares of the company’s stock valued at $26,000 after purchasing an additional 5,203 shares during the period. Guggenheim Capital LLC bought a new stake in shares of Cricut in the 4th quarter worth $55,000. Orion Porfolio Solutions LLC acquired a new stake in shares of Cricut in the fourth quarter valued at $63,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Cricut in the third quarter valued at $68,000. Institutional investors own 19.60% of the company’s stock.

Cricut Company Profile

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.