Cricut, Inc. (NASDAQ:CRCT) Short Interest Up 6.4% in September

Cricut, Inc. (NASDAQ:CRCT) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 3,850,000 shares, an increase of 6.4% from the September 15th total of 3,620,000 shares. Based on an average daily volume of 499,700 shares, the days-to-cover ratio is presently 7.7 days. Approximately 8.6% of the shares of the stock are short sold.

Cricut Stock Down 3.2 %

NASDAQ CRCT traded down $0.22 on Thursday, reaching $6.71. The company had a trading volume of 192,044 shares, compared to its average volume of 726,367. Cricut has a 52 week low of $4.43 and a 52 week high of $8.79. The stock’s 50 day moving average is $6.17 and its 200-day moving average is $6.04. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 23.14 and a beta of 0.12.

Cricut (NASDAQ:CRCT) last posted its earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.04. Cricut had a net margin of 9.16% and a return on equity of 13.18%. The company had revenue of $167.95 million for the quarter, compared to analyst estimates of $175.68 million. During the same period last year, the business posted $0.07 earnings per share. As a group, analysts forecast that Cricut will post 0.29 EPS for the current year.

Insider Buying and Selling at Cricut

In related news, CEO Arora Ashish sold 53,301 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $5.79, for a total transaction of $308,612.79. Following the transaction, the chief executive officer now owns 2,637,243 shares in the company, valued at $15,269,636.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Donald B. Olsen sold 40,000 shares of Cricut stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $5.74, for a total value of $229,600.00. Following the completion of the sale, the executive vice president now directly owns 655,833 shares of the company’s stock, valued at approximately $3,764,481.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arora Ashish sold 53,301 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $5.79, for a total value of $308,612.79. Following the transaction, the chief executive officer now directly owns 2,637,243 shares in the company, valued at $15,269,636.97. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 267,112 shares of company stock worth $1,599,515. 18.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CRCT. American Century Companies Inc. grew its holdings in shares of Cricut by 42.7% during the second quarter. American Century Companies Inc. now owns 453,014 shares of the company’s stock worth $2,714,000 after buying an additional 135,539 shares in the last quarter. Lazard Asset Management LLC grew its stake 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 in the last quarter. Algert Global LLC acquired a new stake in shares of Cricut in the second quarter valued at approximately $558,000. Nisa Investment Advisors LLC lifted its position in Cricut by 252,185.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 17,660 shares of the company’s stock worth $106,000 after buying an additional 17,653 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Cricut during the first quarter worth about $758,000. Institutional investors and hedge funds 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.