Cricut (NASDAQ:CRCT) Hits New 52-Week Low - Time to Sell?

Cricut, Inc. (NASDAQ:CRCT - Get Free Report)'s stock price reached a new 52-week low on Thursday . The company traded as low as $4.03 and last traded at $4.11, with a volume of 503355 shares. The stock had previously closed at $4.80.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CRCT. Morgan Stanley dropped their target price on shares of Cricut from $3.90 to $3.80 and set an "underweight" rating on the stock in a research report on Thursday, March 6th. Citigroup reiterated a "sell" rating and set a $4.00 price objective (down from $6.00) on shares of Cricut in a research note on Monday, April 14th.

Cricut Stock Performance

The firm's 50 day moving average is $5.28 and its 200-day moving average is $5.67. The company has a market cap of $875.68 million, a PE ratio of 14.71 and a beta of -0.02.

Cricut (NASDAQ:CRCT - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. The firm had revenue of $209.31 million during the quarter, compared to analysts' expectations of $214.41 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. On average, analysts predict that Cricut, Inc. will post 0.28 EPS for the current year.

Insider Transactions at Cricut

In other news, CEO Arora Ashish sold 5,283 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $5.25, for a total transaction of $27,735.75. Following the completion of the sale, the chief executive officer now owns 4,059,329 shares in the company, valued at $21,311,477.25. This trade represents a 0.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 270,009 shares of company stock worth $1,519,869 in the last quarter. Company insiders own 18.02% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CRCT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Cricut by 6.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,095 shares of the company's stock valued at $154,000 after purchasing an additional 1,695 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Cricut by 4.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 49,055 shares of the company's stock worth $280,000 after buying an additional 2,272 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Cricut by 9.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,468 shares of the company's stock valued at $186,000 after buying an additional 2,684 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of Cricut by 11.0% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 33,846 shares of the company's stock valued at $193,000 after buying an additional 3,365 shares during the period. Finally, Algert Global LLC raised its holdings in shares of Cricut by 4.5% in the 4th quarter. Algert Global LLC now owns 97,323 shares of the company's stock valued at $555,000 after buying an additional 4,213 shares during the period. 19.60% of the stock is currently owned by hedge funds and other institutional investors.

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.