Short Interest in Cutera, Inc. (NASDAQ:CUTR) Rises By 7.6%

Cutera, Inc. (NASDAQ:CUTR) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 4,090,000 shares, a growth of 7.6% from the October 15th total of 3,800,000 shares. Based on an average daily trading volume, of 340,000 shares, the days-to-cover ratio is presently 12.0 days.

Hedge Funds Weigh In On Cutera

A number of large investors have recently made changes to their positions in CUTR. Squarepoint Ops LLC boosted its holdings 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 buying an additional 70,870 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Cutera by 14.2% during 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 during the period. Ground Swell Capital LLC acquired a new stake in shares of Cutera during the 2nd quarter valued at approximately $37,000. Bayesian Capital Management LP purchased a new stake in shares of Cutera during the 1st quarter worth approximately $33,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Cutera by 7.1% in the 1st quarter. BNP Paribas Financial Markets now owns 75,833 shares of the medical device company’s stock worth $111,000 after acquiring an additional 5,017 shares during the period. Hedge funds and other institutional investors own 90.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CUTR. Piper Sandler restated a “neutral” rating and issued a $1.00 target price (down previously from $3.00) on shares of Cutera in a research note on Friday, August 9th. StockNews.com started coverage on shares of Cutera in a research report on Monday. They issued a “sell” rating for the company. Finally, Stephens lowered their price objective on Cutera from $10.00 to $5.00 and set an “overweight” rating on the stock in a report on Friday, August 9th.

Cutera Stock Performance

NASDAQ:CUTR traded up $0.00 during trading hours on Tuesday, hitting $0.29. The company’s stock had a trading volume of 34,997 shares, compared to its average volume of 898,695. Cutera has a 52-week low of $0.28 and a 52-week high of $4.97. The business’s 50-day moving average is $0.66 and its two-hundred day moving average is $1.23. The company has a market capitalization of $5.85 million, a PE ratio of -0.04 and a beta of 1.35.

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.