Short Interest in Cricut, Inc. (NASDAQ:CRCT) Drops By 5.1%

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) was the recipient of 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. Currently, 8.0% of the company's shares are short sold. Based on an average daily volume of 374,400 shares, the short-interest ratio is presently 9.5 days.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, EVP Donald B. Olsen sold 40,000 shares of the firm's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $5.74, for a total value of $229,600.00. Following the completion of the transaction, the executive vice president now owns 655,833 shares of the company's stock, valued at approximately $3,764,481.42. This trade represents a 5.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 18.02% of the stock is owned by company insiders.

Institutional Trading of Cricut

Several large investors have recently bought and sold shares of CRCT. Vanguard Group Inc. boosted its holdings in Cricut by 10.9% in the first quarter. Vanguard Group Inc. now owns 3,658,790 shares of the company's stock worth $17,416,000 after purchasing an additional 360,080 shares during the period. American Century Companies Inc. grew its stake in Cricut by 42.7% during the 2nd quarter. American Century Companies Inc. now owns 453,014 shares of the company's stock valued at $2,714,000 after acquiring an additional 135,539 shares in the last quarter. Tenzing Global Management LLC lifted its holdings in shares of Cricut by 4.9% during the 3rd quarter. Tenzing Global Management LLC now owns 2,150,000 shares of the company's stock valued at $14,900,000 after buying an additional 100,000 shares during the last quarter. Algert Global LLC bought a new stake in shares of Cricut during the second quarter valued at approximately $558,000. Finally, Martingale Asset Management L P grew its position in Cricut by 258.6% in the third quarter. Martingale Asset Management L P now owns 125,846 shares of the company's stock valued at $872,000 after acquiring an additional 90,757 shares during the period. Institutional investors and hedge funds own 19.60% of the company's stock.

Cricut Trading Up 2.6 %

NASDAQ:CRCT traded up $0.13 during trading hours on Monday, hitting $5.18. The stock had a trading volume of 261,168 shares, compared to its average volume of 691,400. Cricut has a 1-year low of $4.43 and a 1-year high of $8.40. The business has a 50 day simple moving average of $6.32 and a two-hundred day simple moving average of $6.22. The company has a market cap of $1.11 billion, a PE ratio of 18.04 and a beta of 0.13.

Cricut (NASDAQ:CRCT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the business earned $0.08 EPS. Research analysts expect that Cricut will post 0.28 EPS for the current fiscal year.

Cricut Announces Dividend

The company also recently disclosed a None dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be given a $0.50 dividend. This represents a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, January 7th. Cricut's dividend payout ratio (DPR) is 71.43%.

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.