Market cap of Cricut Inc. [CRCT] reaches 6.60B – now what?

Cricut Inc. [NASDAQ: CRCT] surged by $2.67 during the normal trading session on Tuesday and reaching a high of $31.90 during the day while it closed the day at $30.93. The company report on May 22, 2021 that Ready, Set, Create: Cricut Unveils Innovations to Double Creativity Speeds.

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Bring Creations to Life Faster Than Before with Cricut Explore®3 and Cricut Maker®3.

Makers and crafters of the world can now create faster than before with Cricut Explore®3 and Cricut Maker®3. Cricut is the leader in crafting technology that lets people design, create, and personalize with its smart cutting machines. Whether you want to design beautiful decals, brighten up your walls or make personalized t-shirts for your family or friends, Cricut Explore 3 and Cricut Maker 3 cut at a speed of up to eight inches per second. It’s never been quicker or easier to get crafty.

The market cap for CRCT stock reached $6.60 billion, with 207.31 million shares outstanding and 14.40 million shares in the current float. Compared to the average trading volume of 889.80K shares, CRCT reached a trading volume of 2388018 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Cricut Inc. [CRCT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CRCT shares is $29.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CRCT stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Robert W. Baird have made an estimate for Cricut Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 19, 2021. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Overweight. The new note on the price target was released on April 19, 2021, representing the official price target for Cricut Inc. stock. Previously, the target price had yet another raise to $35, while Goldman analysts kept a Buy rating on CRCT stock.

The Average True Range (ATR) for Cricut Inc. is set at 2.73, with the Price to Sales ratio for CRCT stock in the period of the last 12 months amounting to 5.79. The Price to Book ratio for the last quarter was 11.90, with the Price to Cash per share for the same quarter was set at 1.58.

CRCT stock trade performance evaluation

Cricut Inc. [CRCT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 24.52.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CRCT stock in for the last two-week period is set at 69.86, with the RSI for the last a single of trading hit 72.69, and the three-weeks RSI is set at 68.59 for Cricut Inc. [CRCT], while it was recorded at 28.97 for the last single week of trading.

Cricut Inc. [CRCT]: An insightful look at the core fundamentals

Cricut Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 2.70.

Cricut Inc. [CRCT]: Insider Ownership positions

There are presently around $389 million, or 82.60% of CRCT stock, in the hands of institutional investors. The top three institutional holders of CRCT stocks are: GRANAHAN INVESTMENT MANAGEMENT INC/MA with ownership of 2,445,131, which is approximately New of the company’s market cap and around 10.20% of the total institutional ownership; FMR LLC, holding 1,455,808 shares of the stock with an approximate value of $45.03 million in CRCT stocks shares; and FRANKLIN RESOURCES INC, currently with $38.87 million in CRCT stock with ownership of nearly New of the company’s market capitalization.

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40 institutional holders increased their position in Cricut Inc. [NASDAQ:CRCT] by around 12,568,856 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 12,568,856 shares, according to the latest SEC report filing. CRCT stock had 40 new institutional investments in for a total of 12,568,856 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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