Cutera (NASDAQ:CUTR) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Cutera (NASDAQ:CUTR) in a research report sent to investors on Tuesday morning. The brokerage issued a sell rating on the medical device company’s stock.

Other equities analysts also recently issued reports about the stock. Piper Sandler reiterated a “neutral” rating and set a $1.00 price objective (down from $3.00) on shares of Cutera in a research note on Friday, August 9th. Stephens dropped their price objective on shares of Cutera from $10.00 to $5.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th.

Cutera Stock Performance

Shares of NASDAQ:CUTR opened at $0.39 on Tuesday. The firm’s 50 day simple moving average is $0.61 and its 200-day simple moving average is $1.14. Cutera has a one year low of $0.28 and a one year high of $4.97. The firm has a market cap of $7.91 million, a PE ratio of -0.05 and a beta of 1.35.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC boosted its stake in Cutera by 164.5% in the 2nd quarter. Squarepoint Ops LLC now owns 113,964 shares of the medical device company’s stock worth $172,000 after purchasing an additional 70,870 shares in the last quarter. Bank of Montreal Can grew its position in Cutera by 14.2% during the 2nd quarter. Bank of Montreal Can now owns 282,704 shares of the medical device company’s stock worth $455,000 after purchasing an additional 35,248 shares during the last quarter. Ground Swell Capital LLC purchased a new stake in Cutera during the 2nd quarter worth approximately $37,000. Finally, Bayesian Capital Management LP purchased a new stake in Cutera during the 1st quarter worth approximately $33,000. 90.70% of the stock is owned by institutional investors and hedge funds.

About Cutera

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.