Short Interest in Cricut, Inc. (NASDAQ:CRCT) Increases By 15.3%

Cricut, Inc. (NASDAQ:CRCT) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 4,300,000 shares, an increase of 15.3% from the November 30th total of 3,730,000 shares. Based on an average daily volume of 342,800 shares, the short-interest ratio is presently 12.5 days. Approximately 9.6% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Cricut news, EVP Donald B. Olsen sold 30,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $5.23, for a total transaction of $156,900.00. Following the completion of the transaction, the executive vice president now owns 625,833 shares of the company’s stock, valued at $3,273,106.59. This represents a 4.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arora Ashish sold 21,250 shares of Cricut stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $5.94, for a total value of $126,225.00. Following the completion of the sale, the chief executive officer now directly owns 3,780,840 shares in the company, valued at $22,458,189.60. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 210,549 shares of company stock valued at $1,199,555. Corporate insiders own 18.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Burns Matteson Capital Management LLC purchased a new position in shares of Cricut during the third quarter valued at approximately $70,000. Arizona State Retirement System lifted its stake in shares of Cricut by 20.8% during the 2nd quarter. Arizona State Retirement System now owns 12,199 shares of the company’s stock worth $73,000 after acquiring an additional 2,103 shares during the last quarter. CWM LLC boosted its holdings in Cricut by 23.9% during the 3rd quarter. CWM LLC now owns 12,026 shares of the company’s stock valued at $83,000 after acquiring an additional 2,322 shares during the period. Quantbot Technologies LP bought a new position in Cricut in the 3rd quarter valued at $93,000. Finally, SG Americas Securities LLC purchased a new stake in Cricut in the third quarter worth $118,000. 19.60% of the stock is owned by hedge funds and other institutional investors.

Cricut Stock Performance

Shares of NASDAQ:CRCT traded down $0.02 on Monday, reaching $5.73. The company’s stock had a trading volume of 209,970 shares, compared to its average volume of 653,503. The company has a 50-day simple moving average of $5.86 and a 200 day simple moving average of $6.02. The company has a market cap of $1.23 billion, a P/E ratio of 20.46 and a beta of 0.03. Cricut has a 52-week low of $4.43 and a 52-week high of $8.40.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $167.89 million for the quarter, compared to the consensus estimate of $165.35 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. During the same period in the previous year, the firm earned $0.08 earnings per share. On average, equities research analysts forecast that Cricut will post 0.28 EPS for the current fiscal 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 given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a yield of 3.4%. Cricut’s dividend payout ratio is presently 71.43%.

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.