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Cricut (NASDAQ:CRCT) Given "Hold (C)" Rating at Weiss Ratings

Cricut logo with Business Services background

Key Points

  • Cricut's stock was rated "Hold (C)" by Weis Ratings, indicating cautious sentiment towards the stock’s performance.
  • The company reported a net margin of 10.09% and a return on equity of 16.49% in its latest earnings report, beating EPS estimates.
  • Insider selling has been notable, with CEO Ashish Arora and General Counsel Matt Tuttle selling shares, reflecting a decrease in their ownership percentages.
  • Interested in Cricut? Here are five stocks we like better.

Cricut (NASDAQ:CRCT - Get Free Report)'s stock had its "hold (c)" rating reissued by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen downgraded shares of Cricut from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $4.52.

Get Our Latest Research Report on CRCT

Cricut Stock Performance

Shares of NASDAQ:CRCT traded up $0.12 during mid-day trading on Wednesday, hitting $5.67. The stock had a trading volume of 595,313 shares, compared to its average volume of 766,172. The company has a market cap of $1.20 billion, a PE ratio of 17.18 and a beta of 0.18. Cricut has a 12-month low of $3.94 and a 12-month high of $7.33. The company's 50 day moving average is $5.94 and its 200-day moving average is $5.76.

Cricut (NASDAQ:CRCT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $172.11 million during the quarter, compared to the consensus estimate of $158.59 million. Cricut had a net margin of 10.09% and a return on equity of 16.49%. On average, equities research analysts predict that Cricut will post 0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Arora Ashish sold 21,250 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $5.58, for a total transaction of $118,575.00. Following the transaction, the chief executive officer owned 3,036,561 shares in the company, valued at approximately $16,944,010.38. This trade represents a 0.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Matt Tuttle sold 40,491 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $5.69, for a total transaction of $230,393.79. Following the completion of the transaction, the general counsel owned 329,164 shares in the company, valued at $1,872,943.16. The trade was a 10.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 330,661 shares of company stock worth $1,941,493 in the last 90 days. 18.61% of the stock is owned by insiders.

Hedge Funds Weigh In On Cricut

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ascent Group LLC bought a new position in shares of Cricut during the 1st quarter worth about $218,000. Bank of New York Mellon Corp lifted its holdings in shares of Cricut by 2.0% during the 1st quarter. Bank of New York Mellon Corp now owns 485,840 shares of the company's stock worth $2,502,000 after acquiring an additional 9,300 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cricut by 22.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 136,475 shares of the company's stock worth $703,000 after acquiring an additional 25,330 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Cricut by 94.2% during the 1st quarter. Allianz Asset Management GmbH now owns 40,000 shares of the company's stock worth $206,000 after acquiring an additional 19,400 shares during the period. Finally, XTX Topco Ltd lifted its holdings in Cricut by 6.3% during the 1st quarter. XTX Topco Ltd now owns 56,003 shares of the company's stock valued at $288,000 after purchasing an additional 3,326 shares during the last quarter. 19.60% of the stock is owned by institutional investors.

Cricut Company Profile

(Get Free Report)

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.

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