Cutera, Inc. (NASDAQ:CUTR) Short Interest Down 6.9% in October

Cutera, Inc. (NASDAQ:CUTR) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totalling 3,800,000 shares, a decline of 6.9% from the September 30th total of 4,080,000 shares. Based on an average trading volume of 366,600 shares, the days-to-cover ratio is currently 10.4 days.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Stephens decreased their price objective on Cutera from $10.00 to $5.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Piper Sandler restated a “neutral” rating and set a $1.00 price objective (down previously from $3.00) on shares of Cutera in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Cutera presently has an average rating of “Hold” and a consensus target price of $5.33.

Institutional Trading of Cutera

A number of institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets grew its stake in Cutera by 7.1% in the 1st quarter. BNP Paribas Financial Markets now owns 75,833 shares of the medical device company’s stock valued at $111,000 after purchasing an additional 5,017 shares during the period. Bayesian Capital Management LP purchased a new position in shares of Cutera in the 1st quarter worth about $33,000. Ground Swell Capital LLC bought a new position in Cutera during the second quarter valued at about $37,000. Bank of Montreal Can increased its holdings in Cutera by 14.2% during the second quarter. Bank of Montreal Can now owns 282,704 shares of the medical device company’s stock worth $455,000 after buying an additional 35,248 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in Cutera by 164.5% in the second quarter. Squarepoint Ops LLC now owns 113,964 shares of the medical device company’s stock worth $172,000 after acquiring an additional 70,870 shares during the period. 90.70% of the stock is owned by hedge funds and other institutional investors.

Cutera Price Performance

NASDAQ CUTR opened at $0.58 on Friday. The company has a fifty day moving average price of $0.73 and a 200-day moving average price of $1.38. The firm has a market cap of $11.66 million, a price-to-earnings ratio of -0.08 and a beta of 1.32. Cutera has a 1 year low of $0.58 and a 1 year high of $4.97.

Cutera (NASDAQ:CUTR) last issued its quarterly earnings data on Thursday, August 8th. The medical device company reported ($1.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.55) by $0.32. The firm had revenue of $34.38 million during the quarter, compared to the consensus estimate of $39.47 million. On average, research analysts anticipate that Cutera will post -4.75 EPS for the current fiscal year.

Cutera Company Profile

Cutera, Inc provides aesthetic and dermatology solutions for medical practitioners worldwide. It develops, manufactures, and markets energy-based product platforms for medical practitioners; and distributes third-party manufactured skincare products. The company provides AviClear for the treatment of mild, moderate, and severe inflammatory acne vulgaris; Secret PRO, a device that utilizes fractional CO2 for skin resurfacing and radio frequency (RF) microneedling for skin revitalization; truFlex, a bio-electrical muscle stimulation device designs to strengthen, firm and tone the abdomen, buttocks, and thighs; and excel V/V+, a vascular and benign pigmented lesion treatment platform.