Cricut (NASDAQ:CRCT) Reaches New 52-Week Low – Here’s Why

Cricut, Inc. (NASDAQ:CRCT) shares reached a new 52-week low on Thursday . The company traded as low as $4.03 and last traded at $4.11, with a volume of 503355 shares trading hands. The stock had previously closed at $4.80.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CRCT shares. 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. Citigroup reissued a “sell” rating and issued a $4.00 price target (down previously from $6.00) on shares of Cricut in a research note on Monday, April 14th.

Cricut Trading Up 0.2 %

The business’s 50-day simple moving average is $5.28 and its 200 day simple moving average is $5.67. The company has a market capitalization of $875.68 million, a P/E ratio of 14.71 and a beta of -0.02.

Cricut (NASDAQ:CRCT) 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 analysts’ expectations of $214.41 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. As a group, sell-side analysts predict that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Insider Activity

In other Cricut news, CEO Arora Ashish sold 5,283 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $5.25, for a total value of $27,735.75. Following the completion of the sale, the chief executive officer now directly owns 4,059,329 shares of the company’s stock, valued at approximately $21,311,477.25. This represents a 0.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 270,009 shares of company stock worth $1,519,869 over the last 90 days. 18.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cricut

Hedge funds have recently made changes to their positions in the business. Simplicity Wealth LLC bought a new stake in Cricut during the first quarter worth approximately $134,000. Public Employees Retirement System of Ohio bought a new stake in shares of Cricut during the 4th quarter worth $89,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Cricut by 28.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 112,035 shares of the company’s stock worth $639,000 after acquiring an additional 24,507 shares during the last quarter. State of Wyoming raised its position in shares of Cricut by 138.1% during the fourth quarter. State of Wyoming now owns 87,097 shares of the company’s stock worth $496,000 after purchasing an additional 50,514 shares during the period. Finally, ProShare Advisors LLC purchased a new stake in shares of Cricut during the fourth quarter valued at $75,000. Institutional investors and hedge funds own 19.60% of the company’s stock.

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.