Cricut, Inc. (NASDAQ:CRCT) Given Consensus Recommendation of “Strong Sell” by Brokerages

Cricut, Inc. (NASDAQ:CRCT) has received an average rating of “Strong Sell” from the five ratings firms that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $3.6667.

A number of analysts recently weighed in on the stock. Barclays restated an “underweight” rating and set a $4.00 target price on shares of Cricut in a research note on Wednesday, March 4th. The Goldman Sachs Group decreased their price target on shares of Cricut from $3.50 to $3.00 and set a “sell” rating for the company in a research note on Wednesday, January 14th. UBS Group reiterated a “cautious” rating on shares of Cricut in a report on Wednesday, March 4th. Finally, Weiss Ratings raised shares of Cricut from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, March 5th.

Insider Activity at Cricut

In related news, CEO Arora Ashish sold 60,000 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $4.28, for a total value of $256,800.00. Following the transaction, the chief executive officer owned 3,738,453 shares of the company’s stock, valued at $16,000,578.84. This represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 235,124 shares of company stock worth $1,064,443 in the last three months. Insiders own 18.61% of the company’s stock.

Institutional Trading of Cricut

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC increased its holdings in shares of Cricut by 374.5% in the 4th quarter. Millennium Management LLC now owns 982,343 shares of the company’s stock valued at $4,863,000 after acquiring an additional 775,330 shares during the last quarter. Algert Global LLC lifted its stake in Cricut by 354.9% during the third quarter. Algert Global LLC now owns 615,697 shares of the company’s stock worth $3,873,000 after purchasing an additional 480,364 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Cricut by 51.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,379,155 shares of the company’s stock worth $8,675,000 after purchasing an additional 467,934 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Cricut by 76.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 906,141 shares of the company’s stock valued at $5,700,000 after purchasing an additional 392,951 shares in the last quarter. Finally, Tudor Investment Corp ET AL boosted its holdings in Cricut by 824.0% in the third quarter. Tudor Investment Corp ET AL now owns 358,213 shares of the company’s stock valued at $2,253,000 after purchasing an additional 319,447 shares in the last quarter. 19.60% of the stock is owned by hedge funds and other institutional investors.

Cricut Stock Performance

NASDAQ:CRCT opened at $4.00 on Friday. Cricut has a 12-month low of $3.73 and a 12-month high of $7.33. The firm has a market cap of $847.12 million, a PE ratio of 11.11 and a beta of 0.23. The stock has a fifty day moving average price of $4.29 and a 200 day moving average price of $4.86.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Wednesday, March 4th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $203.60 million for the quarter, compared to the consensus estimate of $202.22 million. Cricut had a return on equity of 20.44% and a net margin of 10.82%. Equities analysts forecast that Cricut will post 0.28 EPS for the current year.

Cricut Company Profile

Cricut, Inc (NASDAQ: CRCT) is a U.S.-based technology company specializing in personal and small-business crafting solutions. The company designs and markets a family of cutting machines that leverage computer-aided design to precisely cut a wide range of materials, including paper, vinyl, fabric and leather. Complementing its hardware offerings, Cricut provides proprietary software and mobile applications that enable users to create custom artwork, import graphics and access a vast library of pre-designed projects and fonts through a subscription service.

Founded as a division of Provo Craft & Novelty in 2005, Cricut emerged as an independent public company in March 2021.