Cricut (NASDAQ:CRCT) Sets New 52-Week Low - What's Next?

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) shares reached a new 52-week low on Friday . The stock traded as low as $4.59 and last traded at $4.75, with a volume of 29168 shares traded. The stock had previously closed at $4.82.

Analyst Ratings Changes

Separately, Morgan Stanley decreased their price target on shares of Cricut from $3.90 to $3.80 and set an "underweight" rating for the company in a report on Thursday, March 6th.

Cricut Price Performance

The company has a market cap of $1.06 billion, a price-to-earnings ratio of 17.89 and a beta of -0.02. The stock has a 50-day moving average price of $5.43 and a 200 day moving average price of $5.79.

Cricut (NASDAQ:CRCT - Get Free Report) last announced its earnings results on Tuesday, March 4th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The firm had revenue of $209.31 million for the quarter, compared to the consensus estimate of $214.41 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. Sell-side analysts expect that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Insider Activity at Cricut

In related news, CEO Arora Ashish sold 60,000 shares of Cricut stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $5.94, for a total value of $356,400.00. Following the sale, the chief executive officer now owns 3,451,635 shares of the company's stock, valued at approximately $20,502,711.90. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 270,009 shares of company stock valued at $1,519,869. 18.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cricut

Several hedge funds have recently made changes to their positions in CRCT. FMR LLC boosted its holdings in Cricut by 779.4% during the third quarter. FMR LLC now owns 19,840 shares of the company's stock worth $137,000 after purchasing an additional 17,584 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Cricut by 6.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,528 shares of the company's stock worth $607,000 after buying an additional 5,613 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Cricut during the 3rd quarter worth about $229,000. State Street Corp grew its holdings in shares of Cricut by 3.2% in the 3rd quarter. State Street Corp now owns 1,019,025 shares of the company's stock valued at $7,062,000 after acquiring an additional 31,584 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Cricut in the 3rd quarter valued at about $168,000. 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.