Cricut (NASDAQ:CRCT) Shares Gap Down to $9.27

Cricut, Inc. (NASDAQ:CRCT – Get Rating) gapped down prior to trading on Tuesday . The stock had previously closed at $9.27, but opened at $9.05. Cricut shares last traded at $9.79, with a volume of 77,894 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CRCT shares. Barclays dropped their price target on Cricut from $7.00 to $6.00 in a research report on Thursday, May 11th. Citigroup lifted their target price on Cricut from $8.68 to $9.50 and gave the company a “neutral” rating in a research note on Wednesday, March 8th.

Cricut Stock Down 3.3 %

The firm’s 50-day moving average price is $9.45 and its 200 day moving average price is $9.37. The firm has a market cap of $2.03 billion and a P/E ratio of 44.05.

Cricut (NASDAQ:CRCT – Get Rating) last released its quarterly earnings results on Tuesday, March 7th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Cricut had a net margin of 5.62% and a return on equity of 6.52%. The business had revenue of $280.76 million for the quarter, compared to the consensus estimate of $261.00 million. During the same period last year, the firm posted $0.05 EPS. The business’s quarterly revenue was down 27.6% on a year-over-year basis. On average, equities analysts predict that Cricut, Inc. will post 0.27 earnings per share for the current year.

Institutional Trading of Cricut

A number of hedge funds and other institutional investors have recently made changes to their positions in CRCT. Abdiel Capital Advisors LP increased its stake in shares of Cricut by 2.3% during the fourth quarter. Abdiel Capital Advisors LP now owns 14,886,303 shares of the company’s stock valued at $137,996,000 after acquiring an additional 337,869 shares during the period. Morgan Stanley boosted its stake in Cricut by 27.3% during the 4th quarter. Morgan Stanley now owns 2,912,115 shares of the company’s stock valued at $26,995,000 after purchasing an additional 625,151 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Cricut by 8.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,469,975 shares of the company’s stock valued at $22,872,000 after purchasing an additional 190,428 shares during the period. BlackRock Inc. lifted its holdings in shares of Cricut by 0.8% in the third quarter. BlackRock Inc. now owns 572,000 shares of the company’s stock valued at $5,297,000 after buying an additional 4,551 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Cricut by 2.3% in the first quarter. Geode Capital Management LLC now owns 398,002 shares of the company’s stock valued at $4,060,000 after buying an additional 9,019 shares during the period. 9.76% of the stock is currently owned by institutional investors.

Cricut Company Profile

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Cricut, Inc designs and markets a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates in 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.