Cricut (NASDAQ:CRCT) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Cricut (NASDAQ:CRCT) released its earnings results on Tuesday. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02, Zacks reports. Cricut had a net margin of 8.47% and a return on equity of 12.36%.

Cricut Stock Performance

Shares of NASDAQ:CRCT traded down $0.22 on Tuesday, reaching $5.22. The company’s stock had a trading volume of 607,809 shares, compared to its average volume of 283,410. The company has a 50-day simple moving average of $5.70 and a 200 day simple moving average of $5.91. Cricut has a 52-week low of $4.43 and a 52-week high of $8.40. The company has a market cap of $1.12 billion, a P/E ratio of 18.64 and a beta of -0.02.

Insider Activity

In other Cricut news, CEO Arora Ashish sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $5.87, for a total transaction of $352,200.00. Following the sale, the chief executive officer now directly owns 3,897,038 shares of the company’s stock, valued at $22,875,613.06. The trade was a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 373,210 shares of company stock worth $2,168,982. 18.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, The Goldman Sachs Group decreased their price target on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th.

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.