Acuitas Investments LLC Decreases Stock Position in Cutera, Inc. (NASDAQ:CUTR)

Acuitas Investments LLC decreased its position in shares of Cutera, Inc. (NASDAQ:CUTR) by 50.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,870 shares of the medical device company’s stock after selling 67,830 shares during the period. Acuitas Investments LLC owned about 0.34% of Cutera worth $102,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CUTR. Bayesian Capital Management LP purchased a new stake in shares of Cutera during the first quarter worth about $33,000. BNP Paribas Financial Markets increased its holdings in Cutera by 7.1% during the 1st quarter. BNP Paribas Financial Markets now owns 75,833 shares of the medical device company’s stock worth $111,000 after purchasing an additional 5,017 shares during the last quarter. Opti Capital Management LP acquired a new position in shares of Cutera in the 4th quarter valued at approximately $1,755,000,000. Findell Capital Management LLC purchased a new position in shares of Cutera during the 4th quarter valued at approximately $39,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cutera during the fourth quarter worth approximately $102,000. Institutional investors and hedge funds own 90.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $1.00 price target (down from $3.00) on shares of Cutera in a report on Friday, August 9th. StockNews.com upgraded shares of Cutera to a “sell” rating in a research note on Friday, May 10th. Finally, Stephens decreased their price target on Cutera from $10.00 to $5.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.33.

Cutera Stock Performance

Shares of NASDAQ:CUTR opened at $0.74 on Friday. The company’s fifty day moving average is $1.16 and its two-hundred day moving average is $1.74. Cutera, Inc. has a 1-year low of $0.65 and a 1-year high of $11.09. The stock has a market capitalization of $14.79 million, a price-to-earnings ratio of -0.10 and a beta of 1.32.

Cutera (NASDAQ:CUTR) last released its quarterly earnings data on Thursday, August 8th. The medical device company reported ($1.23) earnings per share for the quarter, topping the consensus estimate of ($1.55) by $0.32. The business had revenue of $34.38 million for the quarter, compared to analyst estimates of $39.47 million. Sell-side analysts expect that Cutera, Inc. will post -4.74 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 deep dermal remodeling; truFlex, a bio-electrical muscle stimulation device to treat patients at all fitness levels; and excel V+, a vascular and benign pigmented lesion treatment platform.