Cricut (NASDAQ:CRCT) Trading 5.2% Higher – Time to Buy?

Cricut, Inc. (NASDAQ:CRCT) shot up 5.2% during mid-day trading on Monday . The stock traded as high as $5.47 and last traded at $5.46. 65,632 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 676,353 shares. The stock had previously closed at $5.19.

Wall Street Analysts Forecast Growth

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

Cricut Stock Up 1.5 %

The business’s 50 day moving average price is $6.12 and its 200-day moving average price is $6.10. The company has a market cap of $1.19 billion, a PE ratio of 19.86 and a beta of 0.03.

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

Cricut Dividend Announcement

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

Insider Buying and Selling at Cricut

In other news, EVP Donald B. Olsen sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $5.23, for a total value of $156,900.00. Following the completion of the sale, the executive vice president now directly owns 625,833 shares in the company, valued at approximately $3,273,106.59. The trade was a 4.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arora Ashish sold 54,839 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $5.29, for a total value of $290,098.31. Following the transaction, the chief executive officer now owns 3,980,294 shares in the company, valued at $21,055,755.26. This trade represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cricut

A number of institutional investors have recently modified their holdings of CRCT. CWM LLC increased its position in Cricut by 150.8% in the second quarter. CWM LLC now owns 9,704 shares of the company’s stock worth $58,000 after buying an additional 5,835 shares during the period. Burns Matteson Capital Management LLC acquired a new stake in shares of Cricut in the 3rd quarter worth about $70,000. Arizona State Retirement System lifted its position in Cricut by 20.8% in the 2nd quarter. Arizona State Retirement System now owns 12,199 shares of the company’s stock valued at $73,000 after purchasing an additional 2,103 shares during the last quarter. Quantbot Technologies LP bought a new position in Cricut in the 3rd quarter worth about $93,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of 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 purchasing an additional 17,653 shares during the period. Institutional investors 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.