Cutera (NASDAQ:CUTR) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Cutera (NASDAQ:CUTR) in a report released on Thursday morning. The firm issued a sell rating on the medical device company’s stock.

Cutera Trading Down 8.0 %

Cutera stock opened at $0.47 on Thursday. Cutera has a 12-month low of $0.28 and a 12-month high of $3.10. The firm has a 50-day moving average price of $0.41 and a 200-day moving average price of $0.64. The firm has a market capitalization of $9.47 million, a PE ratio of -0.07 and a beta of 1.32.

Cutera (NASDAQ:CUTR) last announced its quarterly earnings data on Thursday, November 7th. The medical device company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.98). The business had revenue of $32.50 million for the quarter, compared to analyst estimates of $32.57 million. During the same period in the prior year, the firm posted ($2.22) earnings per share. As a group, sell-side analysts predict that Cutera will post -5.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cutera

An institutional investor recently raised its position in Cutera stock. Squarepoint Ops LLC raised its holdings in shares of Cutera, Inc. (NASDAQ:CUTR) by 164.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,964 shares of the medical device company’s stock after purchasing an additional 70,870 shares during the quarter. Squarepoint Ops LLC owned 0.57% of Cutera worth $172,000 at the end of the most recent reporting period. 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 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.