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

Cricut (NASDAQ:CRCT) released its earnings results on Tuesday. The company reported $0.06 earnings per share (EPS) 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 Trading Down 4.0 %

Shares of CRCT traded down $0.22 during trading hours on Tuesday, reaching $5.22. 607,809 shares of the company traded hands, compared to its average volume of 283,410. The stock’s fifty day moving average price is $5.70 and its 200 day moving average price is $5.91. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 18.64 and a beta of -0.02. Cricut has a 12-month low of $4.43 and a 12-month high of $8.40.

Insider Buying and Selling

In other Cricut news, CEO Arora Ashish sold 60,000 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $5.59, for a total value of $335,400.00. Following the completion of the sale, the chief executive officer now directly owns 3,391,635 shares of the company’s stock, valued at $18,959,239.65. The trade was a 1.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 373,210 shares of company stock valued at $2,168,982 in the last 90 days. Company insiders own 18.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group reduced their price objective on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating on the stock in a research report 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.