StockNews.com Initiates Coverage on Cutera (NASDAQ:CUTR)

Stock analysts at StockNews.com started coverage on shares of Cutera (NASDAQ:CUTR) in a note issued to investors on Monday. The firm set a “sell” rating on the medical device company’s stock.

A number of other research firms have also recently commented on CUTR. Piper Sandler reaffirmed a “neutral” rating and set a $1.00 price objective (down from $3.00) on shares of Cutera in a research report on Friday, August 9th. Stephens reduced their target price on shares of Cutera from $10.00 to $5.00 and set an “overweight” rating for the company in a report on Friday, August 9th.

Cutera Stock Up 5.8 %

CUTR opened at $0.30 on Monday. Cutera has a 12-month low of $0.28 and a 12-month high of $4.97. The business has a 50 day moving average of $0.65 and a 200-day moving average of $1.22. The stock has a market cap of $6.11 million, a price-to-earnings ratio of -0.05 and a beta of 1.35.

Hedge Funds Weigh In On Cutera

A number of hedge funds have recently bought and sold shares of CUTR. BNP Paribas Financial Markets boosted its holdings 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 acquired a new stake in Cutera during the first quarter worth approximately $33,000. Ground Swell Capital LLC bought a new position in Cutera during the 2nd quarter worth $37,000. Bank of Montreal Can raised its holdings in Cutera by 14.2% in the 2nd quarter. Bank of Montreal Can now owns 282,704 shares of the medical device company’s stock valued at $455,000 after acquiring an additional 35,248 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in Cutera by 164.5% in the 2nd quarter. Squarepoint Ops LLC now owns 113,964 shares of the medical device company’s stock valued at $172,000 after acquiring an additional 70,870 shares in the last quarter. 90.70% of the stock is owned by institutional investors.

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.