Cutera, Inc. (NASDAQ:CUTR) Sees Large Decline in Short Interest

Cutera, Inc. (NASDAQ:CUTR) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 3,930,000 shares, a decrease of 10.3% from the August 15th total of 4,380,000 shares. Based on an average daily trading volume, of 556,900 shares, the short-interest ratio is currently 7.1 days.

Cutera Stock Performance

CUTR stock traded down $0.01 during midday trading on Tuesday, reaching $0.75. 168,494 shares of the company traded hands, compared to its average volume of 1,056,983. The business has a 50 day moving average of $1.04 and a 200-day moving average of $1.62. Cutera has a 52-week low of $0.65 and a 52-week high of $9.45. The firm has a market capitalization of $15.07 million, a price-to-earnings ratio of -0.10 and a beta of 1.32.

Cutera (NASDAQ:CUTR) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $39.47 million. Research analysts anticipate that Cutera will post -5.13 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CUTR. Findell Capital Management LLC bought a new stake in Cutera during the 4th quarter valued at $39,000. Opti Capital Management LP bought a new stake in Cutera during the 4th quarter valued at $1,755,000,000. Squarepoint Ops LLC boosted its position in shares of 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 boosted its position in shares of Cutera by 14.2% in 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 in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cutera in the 4th quarter worth $102,000. 90.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Stephens dropped 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. Piper Sandler restated 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cutera has an average rating of “Hold” and an average price target of $5.33.

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.