Cricut, Inc. (NASDAQ:CRCT) Short Interest Update

Cricut, Inc. (NASDAQ:CRCT) saw a significant drop in short interest during 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 trading volume, of 374,400 shares, the short-interest ratio is currently 9.5 days. Currently, 8.0% of the shares of the company are short sold.

Insider Activity

In other Cricut news, EVP Donald B. Olsen sold 40,000 shares of Cricut stock in a transaction on Thursday, August 29th. The shares were 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 of the company’s stock, valued at $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 available through this hyperlink. Insiders own 18.02% of the company’s stock.

Institutional Trading of Cricut

Several hedge funds and other institutional investors have recently bought and sold shares of CRCT. Vanguard Group Inc. raised its holdings in Cricut by 10.9% in the 1st quarter. Vanguard Group Inc. now owns 3,658,790 shares of the company’s stock valued at $17,416,000 after acquiring an additional 360,080 shares in the last quarter. Tenzing Global Management LLC increased its position in shares of Cricut by 4.9% in the third quarter. Tenzing Global Management LLC now owns 2,150,000 shares of the company’s stock worth $14,900,000 after purchasing an additional 100,000 shares during the period. Geode Capital Management LLC raised its stake in Cricut by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,081,319 shares of the company’s stock valued at $7,495,000 after purchasing an additional 9,940 shares in the last quarter. State Street Corp raised its stake in Cricut by 3.2% in the third quarter. State Street Corp now owns 1,019,025 shares of the company’s stock valued at $7,062,000 after purchasing an additional 31,584 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Cricut by 3.1% during the second quarter. AQR Capital Management LLC now owns 765,474 shares of the company’s stock worth $4,585,000 after purchasing an additional 23,345 shares during the period. Institutional investors and hedge funds own 19.60% of the company’s stock.

Cricut Trading Up 2.8 %

Cricut stock opened at $5.19 on Tuesday. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.54 and a beta of 0.13. The stock’s 50 day moving average is $6.31 and its 200-day moving average is $6.22. Cricut has a 12 month low of $4.43 and a 12 month high of $8.40.

Cricut (NASDAQ:CRCT) last issued 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). Cricut had a net margin of 8.47% and a return on equity of 12.36%. The firm had revenue of $167.89 million during the quarter, compared to analyst estimates of $165.35 million. During the same period in the prior year, the company earned $0.08 earnings per share. As a group, equities research analysts predict that Cricut will post 0.28 earnings per share for the current fiscal year.

Cricut Announces Dividend

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

Analyst Ratings Changes

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

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.