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

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

Cricut Stock Down 2.3 %

NASDAQ:CRCT opened at $5.05 on Monday. Cricut has a twelve month low of $4.43 and a twelve month high of $8.40. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 18.04 and a beta of 0.13. The stock’s 50 day moving average price is $6.32 and its two-hundred day moving average price is $6.22.

Cricut (NASDAQ:CRCT) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $165.35 million. During the same quarter in the prior year, the company earned $0.08 EPS. As a group, analysts anticipate that Cricut will post 0.28 earnings per share for the current year.

Cricut Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lowered their price objective 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.

Insider Buying and Selling at Cricut

In related news, EVP Donald B. Olsen sold 40,000 shares of the 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 completion of the transaction, the executive vice president now directly owns 655,833 shares in the company, valued at approximately $3,764,481.42. This trade represents a 5.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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 business. CWM LLC lifted its position in Cricut by 150.8% during the second quarter. CWM LLC now owns 9,704 shares of the company’s stock worth $58,000 after purchasing an additional 5,835 shares during the period. Lazard Asset Management LLC lifted its holdings 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 worth $65,000 after acquiring an additional 13,645 shares during the period. Burns Matteson Capital Management LLC acquired a new stake in shares of Cricut during the 3rd quarter worth approximately $70,000. Arizona State Retirement System increased its stake in Cricut by 20.8% in the second quarter. Arizona State Retirement System now owns 12,199 shares of the company’s stock valued at $73,000 after acquiring an additional 2,103 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in Cricut during the first quarter valued at approximately $78,000. 19.60% of the stock is owned by institutional investors.

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.