Cricut (NASDAQ:CRCT) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Cricut (NASDAQ:CRCT) announced its earnings results on Tuesday. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02, Zacks reports. Cricut had a net margin of 8.47% and a return on equity of 12.36%.

Cricut Stock Down 4.0 %

Shares of NASDAQ CRCT traded down $0.22 during midday trading on Tuesday, hitting $5.22. The company had a trading volume of 607,846 shares, compared to its average volume of 283,410. Cricut has a twelve month low of $4.43 and a twelve month high of $8.40. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 18.64 and a beta of -0.02. The business has a 50-day simple moving average of $5.70 and a two-hundred day simple moving average of $5.91.

Insider Activity

In other Cricut news, CEO Arora Ashish sold 21,250 shares of Cricut stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $6.00, for a total transaction of $127,500.00. Following the completion of the transaction, the chief executive officer now owns 3,844,590 shares in the company, valued at approximately $23,067,540. The trade was a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 373,210 shares of company stock worth $2,168,982. Company insiders own 18.02% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cricut Company Profile

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.