Cricut (NASDAQ:CRCT) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Cricut (NASDAQ:CRCT) from a buy rating to a hold rating in a research report report published on Saturday.

CRCT has been the topic of several other research reports. The Goldman Sachs Group cut shares of Cricut from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $5.50 to $4.75 in a research report on Thursday, October 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cricut in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Cricut presently has an average rating of “Strong Sell” and an average target price of $4.18.

Cricut Trading Down 1.9%

NASDAQ CRCT opened at $5.12 on Friday. Cricut has a 12 month low of $3.94 and a 12 month high of $7.33. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 15.52 and a beta of 0.18. The company’s 50 day moving average is $5.96 and its two-hundred day moving average is $5.78.

Cricut (NASDAQ:CRCT) last released its earnings results on Tuesday, August 5th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Cricut had a net margin of 10.09% and a return on equity of 16.49%. The company had revenue of $172.11 million for the quarter, compared to analysts’ expectations of $158.59 million. Sell-side analysts forecast that Cricut will post 0.28 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Arora Ashish sold 17,204 shares of the business’s stock in a transaction on Friday, October 17th. The shares were sold at an average price of $5.27, for a total value of $90,665.08. Following the sale, the chief executive officer owned 2,668,146 shares in the company, valued at approximately $14,061,129.42. The trade was a 0.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 359,076 shares of company stock valued at $2,091,452 in the last quarter. Insiders own 18.02% of the company’s stock.

Institutional Investors Weigh In On Cricut

Several large investors have recently bought and sold shares of CRCT. Jacobs Levy Equity Management Inc. increased its position in Cricut by 305.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 309,756 shares of the company’s stock worth $1,595,000 after purchasing an additional 233,292 shares during the last quarter. American Century Companies Inc. increased its position in Cricut by 16.4% in the first quarter. American Century Companies Inc. now owns 1,385,320 shares of the company’s stock worth $7,134,000 after purchasing an additional 195,301 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Cricut by 20.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 911,221 shares of the company’s stock worth $6,169,000 after purchasing an additional 157,448 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in Cricut in the first quarter worth $541,000. Finally, Ieq Capital LLC bought a new stake in Cricut in the first quarter worth $500,000. Institutional investors 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.