Cricut, Inc. (NASDAQ:CRCT) Short Interest Down 5.1% in October

Cricut, Inc. (NASDAQ:CRCT) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 3,570,000 shares, a decline of 5.1% from the October 15th total of 3,760,000 shares. Based on an average daily trading volume, of 374,400 shares, the days-to-cover ratio is currently 9.5 days. Approximately 8.0% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

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

Cricut Stock Down 2.3 %

Shares of NASDAQ:CRCT opened at $5.05 on Monday. The business has a fifty day simple moving average of $6.32 and a 200 day simple moving average of $6.22. Cricut has a 12-month low of $4.43 and a 12-month high of $8.40. The firm has a market cap of $1.08 billion, a P/E ratio of 18.04 and a beta of 0.13.

Cricut (NASDAQ:CRCT) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The company had revenue of $167.89 million during the quarter, compared to analyst estimates of $165.35 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. During the same period in the prior year, the firm earned $0.08 earnings per share. As a group, equities research analysts expect that Cricut will post 0.28 EPS for the current year.

Cricut Dividend Announcement

The company also recently disclosed a None dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.50 per share. This represents a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, January 7th. Cricut’s dividend payout ratio (DPR) is presently 71.43%.

Insiders Place Their Bets

In other news, EVP Donald B. Olsen sold 40,000 shares of the business’s 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 sale, the executive vice president now directly owns 655,833 shares in the company, valued at approximately $3,764,481.42. The trade was a 5.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 18.02% of the company’s stock.

Hedge Funds Weigh In On Cricut

Hedge funds have recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in Cricut by 42.7% during the 2nd quarter. American Century Companies Inc. now owns 453,014 shares of the company’s stock worth $2,714,000 after acquiring an additional 135,539 shares during the period. Lazard Asset Management LLC boosted its position in shares of Cricut by 9,096.7% during the 1st quarter. Lazard Asset Management LLC now owns 13,795 shares of the company’s stock valued at $65,000 after purchasing an additional 13,645 shares in the last quarter. Algert Global LLC acquired a new stake in Cricut during the second quarter worth approximately $558,000. Bleakley Financial Group LLC bought a new stake in Cricut in the first quarter worth approximately $78,000. Finally, Nisa Investment Advisors LLC lifted its stake 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 buying an additional 17,653 shares during the period. 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.