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

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

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

Cutera Price Performance

CUTR opened at $0.39 on Tuesday. The firm has a fifty day moving average price of $0.61 and a 200 day moving average price of $1.14. Cutera has a 1 year low of $0.28 and a 1 year high of $4.97. The stock has a market cap of $7.91 million, a P/E ratio of -0.05 and a beta of 1.35.

Hedge Funds Weigh In On Cutera

Large investors have recently added to or reduced their stakes in the stock. Bayesian Capital Management LP acquired a new position in Cutera during the first quarter worth $33,000. Ground Swell Capital LLC acquired a new position in Cutera during the second quarter worth $37,000. Bank of Montreal Can raised its position 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 acquiring an additional 35,248 shares during the period. Finally, Squarepoint Ops LLC raised its position in Cutera by 164.5% during 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 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.