Cricut Inc’s recently made public that its 10% Owner Abdiel Capital Management, LLC unloaded Company’s shares for reported $23.47 million on Mar 07 ’24. In the deal valued at $4.45 per share,5,273,978 shares were sold. As a result of this transaction, Abdiel Capital Management, LLC now holds 0 shares worth roughly $0.0.
Then, Abdiel Capital Management, LLC sold 1,000,000 shares, generating $4,830,000 in total proceeds. Upon selling the shares at $4.83, the 10% Owner now owns 5,273,978 shares.
Before that, Abdiel Capital Management, LLC sold 3,000,000 shares. Cricut Inc shares valued at $18,300,000 were divested by the 10% Owner at a price of $6.10 per share. As a result of the transaction, Abdiel Capital Management, LLC now holds 6,273,978 shares, worth roughly $31.24 million.
Goldman initiated its Cricut Inc [CRCT] rating to a Neutral in a research note published on December 13, 2023; the price target was $7. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in late August with a ‘”a Neutral”‘ rating. Robert W. Baird also remained covering CRCT and has decreased its forecast on March 09, 2022 with a “Neutral” recommendation from previously “an Outperform” rating. Barclays revised its rating on October 01, 2021. It rated CRCT as “an Underweight” which previously was an “an Equal weight”.
Price Performance Review of CRCT
On Friday, Cricut Inc [NASDAQ:CRCT] saw its stock jump 2.47% to $4.98. Over the last five days, the stock has gained 4.62%. Cricut Inc shares have fallen nearly -24.43% since the year began. Nevertheless, the stocks have fallen -46.32% over the past one year. While a 52-week high of $16.51 was reached on 01/12/24, a 52-week low of $4.43 was recorded on 03/06/24. SMA at 50 days reached $5.04, while 200 days put it at $8.09. A total of 0.61 million shares were traded, compared to the trading of 0.24 million shares in the previous session.
Levels Of Support And Resistance For CRCT Stock
The 24-hour chart illustrates a support level at 4.86, which if violated will result in even more drops to 4.73. On the upside, there is a resistance level at 5.06. A further resistance level may holdings at 5.13. The Relative Strength Index (RSI) on the 14-day chart is 51.70, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 54.41%. Stochastics %K at 32.32% indicates the stock is a holding.
How much short interest is there in Cricut Inc?
A steep rise in short interest was recorded in Cricut Inc stocks on Mar 15, 2024, dropping by -1.93 million shares to a total of 4.19 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 6.12 million shares. There was a decline of -46.06%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 14.02% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.21.
