The stock of Cricut Inc (NASDAQ: CRCT) has increased by 3.81 when compared to last closing price of 4.99. Despite this, the company has experienced a 1.77% gain in its stock price over the last five trading sessions. GlobeNewsWire reported 2024-04-16 that SOUTH JORDAN, Utah, April 16, 2024 (GLOBE NEWSWIRE) — Cricut, Inc. (“Cricut”) (NASDAQ: CRCT), the creative technology company that has brought a connected platform for making to millions of users worldwide, today announced it will report its financial results for the first quarter ended March 31, 2024 after the U.S. markets close on Tuesday, May 7, 2024. Cricut management will host a conference call and webcast to discuss the results that afternoon at 3:00 p.m.
Is It Worth Investing in Cricut Inc (NASDAQ: CRCT) Right Now?
Cricut Inc (NASDAQ: CRCT) has a higher price-to-earnings ratio of 21.21x compared to its average ratio, The 36-month beta value for CRCT is at 0.08. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for CRCT is 41.91M, and currently, shorts hold a 9.08% of that float. The average trading volume for CRCT on April 19, 2024 was 851.07K shares.
CRCT’s Market Performance
CRCT’s stock has seen a 1.77% increase for the week, with a 0.58% rise in the past month and a -8.16% fall in the past quarter. The volatility ratio for the week is 4.86%, and the volatility levels for the past 30 days are at 4.60% for Cricut Inc The simple moving average for the last 20 days is 5.62% for CRCT stock, with a simple moving average of -32.73% for the last 200 days.
Analysts’ Opinion of CRCT
Many brokerage firms have already submitted their reports for CRCT stocks, with Goldman repeating the rating for CRCT by listing it as a “Neutral.” The predicted price for CRCT in the upcoming period, according to Goldman is $7 based on the research report published on December 13, 2023 of the previous year 2023.
Citigroup, on the other hand, stated in their research note that they expect to see CRCT reach a price target of $10.50. The rating they have provided for CRCT stocks is “Neutral” according to the report published on August 28th, 2023.
Robert W. Baird gave a rating of “Neutral” to CRCT, setting the target price at $13 in the report published on March 09th of the previous year.
CRCT Trading at 4.04% from the 50-Day Moving Average
After a stumble in the market that brought CRCT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -68.63% of loss for the given period.
Volatility was left at 4.60%, however, over the last 30 days, the volatility rate increased by 4.86%, as shares surge +1.37% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -5.82% lower at present.
During the last 5 trading sessions, CRCT rose by +1.77%, which changed the moving average for the period of 200-days by -58.76% in comparison to the 20-day moving average, which settled at $4.91. In addition, Cricut Inc saw -21.40% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CRCT starting from Abdiel Capital Management, LLC, who sale 5,273,978 shares at the price of $4.45 back on Mar 07 ’24. After this action, Abdiel Capital Management, LLC now owns 0 shares of Cricut Inc, valued at $23,469,202 using the latest closing price.
Abdiel Capital Management, LLC, the 10% Owner of Cricut Inc, sale 1,000,000 shares at $4.83 during a trade that took place back on Feb 21 ’24, which means that Abdiel Capital Management, LLC is holding 5,273,978 shares at $4,830,000 based on the most recent closing price.
Stock Fundamentals for CRCT
Current profitability levels for the company are sitting at:
- 0.09 for the present operating margin
- 0.45 for the gross margin
The net margin for Cricut Inc stands at 0.07. The total capital return value is set at 0.12. Equity return is now at value 8.88, with 6.21 for asset returns.
Based on Cricut Inc (CRCT), the company’s capital structure generated 0.03 points at debt to capital in total, while cash flow to debt ratio is standing at 20.33. The debt to equity ratio resting at 0.03. The interest coverage ratio of the stock is -31.34.
Currently, EBITDA for the company is 99.78 million with net debt to EBITDA at -1.28. When we switch over and look at the enterprise to sales, we see a ratio of 1.3. The receivables turnover for the company is 6.88for trailing twelve months and the total asset turnover is 1.0. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.16.
Conclusion
In conclusion, Cricut Inc (CRCT) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
