Cricut, Inc. (NASDAQ:CRCT) Short Interest Up 6.6% in April

Cricut, Inc. (NASDAQ:CRCT) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 4,050,000 shares, an increase of 6.6% from the March 31st total of 3,800,000 shares. Based on an average daily volume of 842,200 shares, the short-interest ratio is presently 4.8 days. Approximately 9.7% of the company’s stock are short sold.

Cricut Price Performance

CRCT opened at $5.36 on Thursday. The stock has a market capitalization of $1.16 billion, a PE ratio of 22.33 and a beta of 0.03. Cricut has a 12-month low of $4.43 and a 12-month high of $17.89. The firm’s fifty day moving average price is $4.98 and its 200 day moving average price is $6.14.

Cricut (NASDAQ:CRCT) last issued its earnings results on Tuesday, March 5th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $231.25 million during the quarter, compared to analyst estimates of $252.67 million. Cricut had a return on equity of 9.59% and a net margin of 7.01%. Cricut’s revenue was down 17.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 EPS. On average, equities research analysts forecast that Cricut will post 0.25 earnings per share for the current fiscal year.

Insider Activity at Cricut

In other news, major shareholder Abdiel Capital Management, Llc sold 1,000,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $4.83, for a total value of $4,830,000.00. Following the completion of the sale, the insider now owns 5,273,978 shares of the company’s stock, valued at $25,473,313.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 18.02% of the stock is owned by insiders.

Institutional Trading of Cricut

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Cricut in the 3rd quarter worth about $46,000. Quantbot Technologies LP bought a new position in Cricut in the third quarter worth about $72,000. Simplicity Wealth LLC acquired a new position in Cricut in the first quarter valued at approximately $78,000. Principal Financial Group Inc. bought a new position in shares of Cricut during the first quarter valued at approximately $147,000. Finally, Oxford Asset Management LLP bought a new position in shares of Cricut during the fourth quarter valued at approximately $181,000. Institutional investors own 19.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CRCT shares. The Goldman Sachs Group decreased their target price on shares of Cricut from $7.00 to $5.75 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Citigroup decreased their price objective on shares of Cricut from $8.50 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Finally, Barclays dropped their target price on Cricut from $6.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, March 7th.

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.