Cricut (NASDAQ:CRCT) Rating Lowered to Hold at Wall Street Zen

Cricut (NASDAQ:CRCT) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

CRCT has been the subject of a number of other research reports. The Goldman Sachs Group lowered shares of Cricut from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $5.50 to $4.75 in a report on Thursday, October 16th. Weiss Ratings restated a “hold (c-)” rating on shares of Cricut in a research report on Tuesday, November 25th. One investment analyst has rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Strong Sell” and a consensus target price of $4.18.

Cricut Price Performance

Shares of Cricut stock opened at $4.74 on Friday. The stock has a market capitalization of $1.00 billion, a P/E ratio of 12.47 and a beta of 0.18. The business has a 50 day simple moving average of $5.31 and a two-hundred day simple moving average of $5.76. Cricut has a 12 month low of $3.94 and a 12 month high of $7.33.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.05 by $0.05. Cricut had a return on equity of 19.91% and a net margin of 11.31%.The firm had revenue of $170.44 million during the quarter, compared to analysts’ expectations of $156.93 million. As a group, research analysts anticipate that Cricut will post 0.28 EPS for the current fiscal year.

Insider Transactions at Cricut

In other Cricut news, CEO Arora Ashish sold 33,561 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $4.82, for a total transaction of $161,764.02. Following the completion of the sale, the chief executive officer owned 4,386,252 shares of the company’s stock, valued at $21,141,734.64. This trade represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 281,354 shares of company stock worth $1,558,319 over the last ninety days. 18.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cricut

A number of hedge funds have recently modified their holdings of CRCT. Algert Global LLC raised its holdings in Cricut by 354.9% in the 3rd quarter. Algert Global LLC now owns 615,697 shares of the company’s stock valued at $3,873,000 after buying an additional 480,364 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Cricut by 51.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,379,155 shares of the company’s stock worth $8,675,000 after buying an additional 467,934 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of Cricut by 76.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 906,141 shares of the company’s stock valued at $5,700,000 after acquiring an additional 392,951 shares during the last quarter. Bridgeway Capital Management LLC purchased a new stake in shares of Cricut in the 3rd quarter valued at approximately $1,570,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Cricut in the 3rd quarter valued at approximately $1,324,000. 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.