Short Interest in Cricut, Inc. (NASDAQ:CRCT) Increases By 6.4%

Cricut, Inc. (NASDAQ:CRCT) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totalling 3,850,000 shares, a growth of 6.4% from the September 15th total of 3,620,000 shares. Approximately 8.6% of the shares of the stock are sold short. Based on an average daily volume of 499,700 shares, the short-interest ratio is currently 7.7 days.

Cricut Trading Down 3.2 %

Shares of NASDAQ:CRCT traded down $0.22 on Thursday, reaching $6.71. 192,044 shares of the company traded hands, compared to its average volume of 726,367. The stock has a market capitalization of $1.45 billion, a P/E ratio of 23.14 and a beta of 0.12. The business’s 50-day simple moving average is $6.17 and its 200 day simple moving average is $6.04. Cricut has a 52 week low of $4.43 and a 52 week high of $8.79.

Cricut (NASDAQ:CRCT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.04. Cricut had a return on equity of 13.18% and a net margin of 9.16%. The business had revenue of $167.95 million for the quarter, compared to analyst estimates of $175.68 million. During the same period last year, the company earned $0.07 EPS. Sell-side analysts expect that Cricut will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Cricut

In other news, EVP Donald B. Olsen sold 40,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $5.74, for a total transaction of $229,600.00. Following the transaction, the executive vice president now directly owns 655,833 shares in the company, valued at approximately $3,764,481.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Arora Ashish sold 53,301 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $5.79, for a total transaction of $308,612.79. Following the transaction, the chief executive officer now owns 2,637,243 shares of the company’s stock, valued at approximately $15,269,636.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald B. Olsen sold 40,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $5.74, for a total transaction of $229,600.00. Following the completion of the sale, the executive vice president now directly owns 655,833 shares of the company’s stock, valued at $3,764,481.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 267,112 shares of company stock worth $1,599,515 over the last 90 days. Corporate insiders own 18.02% of the company’s stock.

Institutional Investors Weigh In On Cricut

A number of large investors have recently added to or reduced their stakes in CRCT. American Century Companies Inc. grew its stake in shares of Cricut by 42.7% in the second quarter. American Century Companies Inc. now owns 453,014 shares of the company’s stock worth $2,714,000 after purchasing an additional 135,539 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Cricut by 9,096.7% during the first quarter. Lazard Asset Management LLC now owns 13,795 shares of the company’s stock valued at $65,000 after acquiring an additional 13,645 shares in the last quarter. Algert Global LLC purchased a new stake in Cricut in the second quarter worth $558,000. Nisa Investment Advisors LLC boosted its holdings in Cricut by 252,185.7% in the second quarter. Nisa Investment Advisors LLC now owns 17,660 shares of the company’s stock valued at $106,000 after acquiring an additional 17,653 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Cricut during the 1st quarter valued at $758,000. Institutional investors 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.