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

Cutera, Inc. (NASDAQ:CUTR) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 4,090,000 shares, an increase of 7.6% from the October 15th total of 3,800,000 shares. Based on an average daily volume of 340,000 shares, the short-interest ratio is currently 12.0 days.

Cutera Price Performance

Shares of CUTR opened at $0.30 on Tuesday. The company’s fifty day moving average price is $0.66 and its 200-day moving average price is $1.23. Cutera has a 1-year low of $0.28 and a 1-year high of $4.97. The firm has a market capitalization of $5.96 million, a PE ratio of -0.04 and a beta of 1.35.

Institutional Trading of Cutera

Several large investors have recently added to or reduced their stakes in CUTR. Squarepoint Ops LLC raised its holdings in shares of 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 purchasing an additional 70,870 shares during the last quarter. Bank of Montreal Can grew its position in Cutera by 14.2% during 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 during the period. Ground Swell Capital LLC purchased a new position in shares of Cutera during the 2nd quarter valued at about $37,000. Bayesian Capital Management LP acquired a new position in shares of Cutera in the 1st quarter valued at about $33,000. Finally, BNP Paribas Financial Markets grew its holdings in Cutera by 7.1% during the first 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.

Wall Street Analyst Weigh In

CUTR has been the subject of a number of recent analyst reports. Stephens lowered their price objective on Cutera from $10.00 to $5.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. StockNews.com initiated coverage on Cutera in a report on Monday. They issued a “sell” rating for the company. Finally, Piper Sandler restated a “neutral” rating and set a $1.00 price target (down previously from $3.00) on shares of Cutera in a research note on Friday, August 9th.

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 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.