Cricut (NASDAQ:CRCT) Reaches New 12-Month High - What's Next?

Shares of Cricut, Inc. (NASDAQ:CRCT - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $7.33 and last traded at $6.44, with a volume of 864933 shares trading hands. The stock had previously closed at $7.21.

Analyst Upgrades and Downgrades

Separately, Citigroup reissued a "sell" rating and set a $4.00 price target (down from $6.00) on shares of Cricut in a report on Monday, April 14th.

Cricut Stock Performance

The firm's 50-day moving average price is $6.28 and its 200 day moving average price is $5.69. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 18.16 and a beta of 0.16.

Cricut (NASDAQ:CRCT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. Cricut had a net margin of 9.48% and a return on equity of 14.27%. The company had revenue of $162.63 million during the quarter, compared to analysts' expectations of $158.55 million. As a group, equities research analysts predict that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be given a dividend of $0.10 per share. This represents a dividend yield of 3.3%. The ex-dividend date is Monday, July 7th. Cricut's dividend payout ratio is 64.52%.

Insider Activity at Cricut

In related news, CEO Arora Ashish sold 53,489 shares of the stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $5.94, for a total transaction of $317,724.66. Following the completion of the transaction, the chief executive officer owned 2,758,442 shares in the company, valued at approximately $16,385,145.48. This represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 593,489 shares of company stock worth $3,701,725. 18.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CRCT. MQS Management LLC acquired a new position in Cricut during the first quarter worth $59,000. Caisse Des Depots ET Consignations bought a new stake in Cricut during the fourth quarter worth $72,000. ProShare Advisors LLC bought a new stake in Cricut during the fourth quarter worth $75,000. Orion Portfolio Solutions LLC bought a new stake in Cricut during the fourth quarter worth $84,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Cricut during the fourth quarter worth $89,000. Institutional investors and hedge funds own 19.60% of the company's stock.

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.