Cricut (NASDAQ:CRCT) Sets New 1-Year Low - What's Next?

Cricut, Inc. (NASDAQ:CRCT - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $4.03 and last traded at $4.11, with a volume of 503355 shares traded. The stock had previously closed at $4.80.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup reissued a "sell" rating and set a $4.00 price objective (down previously from $6.00) on shares of Cricut in a research note on Monday, April 14th. Morgan Stanley reduced their target price on Cricut from $3.90 to $3.80 and set an "underweight" rating on the stock in a report on Thursday, March 6th.

Cricut Trading Up 4.0 %

The stock has a market cap of $917.13 million, a price-to-earnings ratio of 15.41 and a beta of -0.02. The company has a 50 day simple moving average of $5.25 and a 200-day simple moving average of $5.65.

Cricut (NASDAQ:CRCT - Get Free Report) last announced 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. Cricut had a net margin of 8.47% and a return on equity of 12.36%. The business had revenue of $209.31 million for the quarter, compared to analyst estimates of $214.41 million. Equities analysts forecast that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Insider Activity at Cricut

In related news, CEO Arora Ashish sold 21,250 shares of Cricut stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $5.86, for a total transaction of $124,525.00. Following the completion of the transaction, the chief executive officer now owns 3,694,127 shares in the company, valued at approximately $21,647,584.22. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 248,759 shares of company stock valued at $1,397,681. Insiders own 18.02% of the company's stock.

Hedge Funds Weigh In On Cricut

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its position in Cricut by 25.8% during the fourth 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 last quarter. Geode Capital Management LLC grew its holdings in Cricut by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,095,510 shares of the company's stock valued at $6,246,000 after buying an additional 14,191 shares in the last quarter. State Street Corp increased its position in Cricut by 3.2% during the 3rd quarter. State Street Corp now owns 1,019,025 shares of the company's stock worth $7,062,000 after buying an additional 31,584 shares during the period. Renaissance Technologies LLC increased its position in Cricut by 9.9% during the fourth quarter. Renaissance Technologies LLC now owns 608,543 shares of the company's stock worth $3,469,000 after acquiring an additional 55,011 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Cricut by 175.0% in the 4th quarter. Bank of New York Mellon Corp now owns 476,540 shares of the company's stock worth $2,716,000 after purchasing an additional 303,236 shares in the last quarter. 19.60% of the stock is owned by institutional investors.

About Cricut

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.