Cricut (NASDAQ:CRCT) Stock Price Up 4.6% – What’s Next?

Cricut, Inc. (NASDAQ:CRCT)’s share price was up 4.6% during trading on Thursday . The company traded as high as $5.70 and last traded at $5.69. Approximately 369,495 shares changed hands during trading, an increase of 20% from the average daily volume of 308,195 shares. The stock had previously closed at $5.44.

Analyst Ratings Changes

Separately, Morgan Stanley reduced their price objective on Cricut from $3.90 to $3.80 and set an “underweight” rating on the stock in a research note on Thursday.

Cricut Trading Down 2.1 %

The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 19.86 and a beta of -0.02. The stock’s 50-day moving average is $5.68 and its 200-day moving average is $5.90.

Cricut (NASDAQ:CRCT) last posted its earnings results on Tuesday, March 4th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Cricut had a net margin of 8.47% and a return on equity of 12.36%. The firm had revenue of $209.31 million for the quarter, compared to analysts’ expectations of $214.41 million. On average, equities research analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling at Cricut

In related news, CEO Arora Ashish sold 21,250 shares of Cricut stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $6.31, for a total transaction of $134,087.50. Following the sale, the chief executive officer now directly owns 3,823,340 shares in the company, valued at $24,125,275.40. This trade represents a 0.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 373,210 shares of company stock worth $2,168,982. 18.02% of the stock is currently owned by insiders.

Institutional Trading of Cricut

A number of institutional investors and hedge funds have recently bought and sold shares of CRCT. R Squared Ltd bought a new stake in shares of Cricut in the 4th quarter valued at about $36,000. Copeland Capital Management LLC bought a new stake in Cricut in the fourth quarter valued at approximately $63,000. Drive Wealth Management LLC acquired a new stake in Cricut during the 4th quarter valued at approximately $64,000. Olympiad Research LP bought a new position in Cricut during the 4th quarter worth approximately $67,000. Finally, Caisse Des Depots ET Consignations acquired a new position in shares of Cricut in the 4th quarter worth approximately $72,000. 19.60% of the stock is currently owned by institutional investors and hedge funds.

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.