Cutera (NASDAQ:CUTR) Coverage Initiated by Analysts at StockNews.com

Analysts at StockNews.com started coverage on shares of Cutera (NASDAQ:CUTR) in a report released on Monday. The brokerage set a “sell” rating on the medical device company’s stock.

CUTR has been the subject of a number of other research reports. Stephens lowered their price target on Cutera from $10.00 to $5.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Piper Sandler reiterated a “neutral” rating and set a $1.00 target price (down from $3.00) on shares of Cutera in a research note on Friday, August 9th.

Cutera Stock Down 11.7 %

Shares of NASDAQ:CUTR traded down $0.04 during midday trading on Monday, reaching $0.29. 584,775 shares of the company traded hands, compared to its average volume of 902,554. Cutera has a 12 month low of $0.28 and a 12 month high of $4.97. The firm’s fifty day moving average price is $0.66 and its two-hundred day moving average price is $1.23. The firm has a market capitalization of $5.77 million, a price-to-earnings ratio of -0.04 and a beta of 1.35.

Institutional Investors Weigh In On Cutera

Institutional investors have recently modified their holdings of the business. Bayesian Capital Management LP acquired a new stake in Cutera in the 1st quarter valued at approximately $33,000. Ground Swell Capital LLC purchased a new stake in shares of Cutera in the second quarter valued at about $37,000. BNP Paribas Financial Markets lifted its holdings in shares of Cutera by 7.1% in the first 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 in the last quarter. Squarepoint Ops LLC lifted its stake in shares of Cutera by 164.5% during the second quarter. Squarepoint Ops LLC now owns 113,964 shares of the medical device company’s stock valued at $172,000 after buying an additional 70,870 shares during the period. Finally, Bank of Montreal Can raised its stake 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 purchasing an additional 35,248 shares during the period. 90.70% of the stock is currently 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.