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

Cricut, Inc. (NASDAQ:CRCT - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $7.05 and last traded at $6.95, with a volume of 504465 shares changing hands. The stock had previously closed at $6.77.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CRCT shares. Citigroup reissued a "sell" rating and issued a $4.00 target price (down from $6.00) on shares of Cricut in a research report on Monday, April 14th. Morgan Stanley decreased their price objective on Cricut from $3.90 to $3.80 and set an "underweight" rating for the company in a report on Thursday, March 6th.

Cricut Stock Up 2.3%

The stock has a market cap of $1.50 billion, a PE ratio of 22.77 and a beta of 0.16. The stock has a fifty day moving average of $6.05 and a 200-day moving average of $5.67.

Cricut (NASDAQ:CRCT - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.03. Cricut had a return on equity of 14.27% and a net margin of 9.48%. The business had revenue of $162.63 million for the quarter, compared to analyst estimates of $158.55 million. Equities research analysts forecast that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Cricut Cuts Dividend

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

Insider Activity

In related news, CEO Arora Ashish sold 60,000 shares of Cricut stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $6.57, for a total value of $394,200.00. Following the sale, the chief executive officer directly owned 2,931,931 shares in the company, valued at $19,262,786.67. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 480,000 shares of company stock worth $3,009,000. Corporate insiders own 18.02% of the company's stock.

Institutional Investors Weigh In On Cricut

A number of hedge funds and other institutional investors have recently bought and sold shares of CRCT. MQS Management LLC purchased a new position in shares of Cricut in the 1st quarter valued at about $59,000. Caisse Des Depots ET Consignations acquired a new position in Cricut during the fourth quarter worth about $72,000. ProShare Advisors LLC acquired a new position in Cricut during the fourth quarter worth about $75,000. Orion Portfolio Solutions LLC purchased a new position in Cricut in the fourth quarter valued at about $84,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Cricut during the 4th quarter valued at approximately $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.