Cricut (NASDAQ:CRCT) Trading Down 0.9% – Should You Sell?

Cricut, Inc. (NASDAQ:CRCT) shares dropped 0.9% during trading on Tuesday . The company traded as low as $4.47 and last traded at $4.48. Approximately 349,101 shares traded hands during trading, a decline of 33% from the average daily volume of 517,577 shares. The stock had previously closed at $4.52.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRCT. The Goldman Sachs Group reiterated a “sell” rating and issued a $3.75 price objective on shares of Cricut in a research note on Wednesday, May 6th. Weiss Ratings downgraded Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Four analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Strong Sell” and an average price target of $3.88.

Cricut Trading Down 0.9%

The firm has a market cap of $940.35 million, a P/E ratio of 12.80 and a beta of 0.18. The company’s fifty day moving average price is $4.29 and its two-hundred day moving average price is $4.36.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. The firm had revenue of $159.47 million during the quarter, compared to the consensus estimate of $164.33 million. Cricut had a net margin of 10.36% and a return on equity of 21.37%. On average, analysts predict that Cricut, Inc. will post 0.14 EPS for the current fiscal year.

Cricut Announces Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a dividend yield of 461.0%. Cricut’s dividend payout ratio (DPR) is presently 57.14%.

Insider Activity

In other news, CEO Arora Ashish sold 60,000 shares of Cricut stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $3.95, for a total value of $237,000.00. Following the completion of the transaction, the chief executive officer owned 4,461,592 shares in the company, valued at approximately $17,623,288.40. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jason Makler bought 9,691 shares of Cricut stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $4.34 per share, for a total transaction of $42,058.94. Following the completion of the acquisition, the director directly owned 29,690 shares in the company, valued at $128,854.60. This represents a 48.46% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders sold 93,633 shares of company stock worth $378,514. Insiders own 18.02% of the company’s stock.

Hedge Funds Weigh In On Cricut

A number of institutional investors and hedge funds have recently bought and sold shares of CRCT. Tudor Investment Corp ET AL lifted its holdings in Cricut by 824.0% during the 3rd quarter. Tudor Investment Corp ET AL now owns 358,213 shares of the company’s stock worth $2,253,000 after buying an additional 319,447 shares in the last quarter. CWA Asset Management Group LLC increased its stake in shares of Cricut by 4.1% in the 4th quarter. CWA Asset Management Group LLC now owns 377,095 shares of the company’s stock valued at $1,867,000 after buying an additional 14,864 shares during the period. Renaissance Technologies LLC raised its position in shares of Cricut by 2.7% during the first quarter. Renaissance Technologies LLC now owns 879,143 shares of the company’s stock worth $3,288,000 after acquiring an additional 23,300 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Cricut during the first quarter worth $100,000. Finally, Diversified Trust Co acquired a new position in shares of Cricut during the first quarter valued at $67,000. Institutional investors and hedge funds 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.