Cutera, Inc. (NASDAQ:CUTR) Short Interest Update

Cutera, Inc. (NASDAQ:CUTR) was the target of a large decline in short interest in July. As of July 15th, there was short interest totalling 4,630,000 shares, a decline of 35.2% from the June 30th total of 7,140,000 shares. Based on an average daily trading volume, of 605,500 shares, the days-to-cover ratio is presently 7.6 days.

Cutera Price Performance

NASDAQ CUTR traded down $0.12 during trading hours on Monday, reaching $1.40. 459,970 shares of the stock traded hands, compared to its average volume of 1,186,933. The stock has a 50 day simple moving average of $1.69 and a two-hundred day simple moving average of $2.10. Cutera has a 1 year low of $1.28 and a 1 year high of $20.60. The company has a market cap of $28.14 million, a price-to-earnings ratio of -0.19 and a beta of 1.32.

Cutera (NASDAQ:CUTR) last announced its quarterly earnings data on Thursday, May 9th. The medical device company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.05). The company had revenue of $38.79 million during the quarter, compared to the consensus estimate of $37.17 million. During the same quarter last year, the company posted ($1.26) earnings per share. On average, sell-side analysts forecast that Cutera will post -5.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CUTR. Piper Sandler restated a “neutral” rating and set a $3.00 target price on shares of Cutera in a research report on Friday, June 21st. Stephens reissued an “overweight” rating and set a $10.00 price objective on shares of Cutera in a report on Tuesday, June 25th. Finally, StockNews.com upgraded shares of Cutera to a “sell” rating in a research report on Friday, May 10th. One equities 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. According to MarketBeat.com, Cutera has an average rating of “Hold” and an average price target of $7.67.

Insider Buying and Selling at Cutera

In other news, EVP Michael Karavitis sold 24,940 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $2.59, for a total value of $64,594.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Cutera

Institutional investors have recently made changes to their positions in the business. Findell Capital Management LLC purchased a new stake in Cutera during the fourth quarter valued at about $39,000. Opti Capital Management LP bought a new position in Cutera during the 4th quarter worth approximately $1,755,000,000. Federated Hermes Inc. increased its stake in Cutera by 38.8% in the 4th quarter. Federated Hermes Inc. now owns 148,559 shares of the medical device company’s stock worth $524,000 after purchasing an additional 41,500 shares during the period. McAdam LLC bought a new stake in Cutera in the first quarter valued at approximately $45,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Cutera during the fourth quarter valued at approximately $102,000. Hedge funds and other institutional investors own 90.70% of the company’s stock.

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 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.