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

Cutera, Inc. (NASDAQ:CUTR – Get Rating) was the target of a large increase in short interest during the month of December. As of December 30th, there was short interest totalling 4,450,000 shares, an increase of 8.8% from the December 15th total of 4,090,000 shares. Based on an average daily volume of 379,000 shares, the short-interest ratio is currently 11.7 days.

Analysts Set New Price Targets

CUTR has been the subject of several recent analyst reports. Stephens decreased their price objective on shares of Cutera from $78.00 to $68.00 and set an “overweight” rating for the company in a research report on Wednesday, December 28th. Maxim Group reduced their price target on shares of Cutera from $80.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, January 12th. StockNews.com assumed coverage on shares of Cutera in a research report on Wednesday, October 12th. They issued a “sell” rating for the company. Finally, Cantor Fitzgerald cut shares of Cutera from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $33.00 in a research report on Wednesday, January 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Cutera currently has a consensus rating of “Hold” and an average price target of $56.20.

Cutera Price Performance

NASDAQ CUTR traded down $0.75 during trading on Tuesday, reaching $33.70. The company’s stock had a trading volume of 122,159 shares, compared to its average volume of 838,905. The company has a current ratio of 3.73, a quick ratio of 3.16 and a debt-to-equity ratio of 19.38. Cutera has a twelve month low of $26.51 and a twelve month high of $74.38. The business’s fifty day moving average price is $42.18 and its 200-day moving average price is $44.61.

Cutera (NASDAQ:CUTR – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The medical device company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.38). The business had revenue of $62.81 million during the quarter, compared to analyst estimates of $62.65 million. Cutera had a negative net margin of 31.31% and a negative return on equity of 225.70%. On average, research analysts forecast that Cutera will post -2.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Lapides Asset Management LLC increased its stake in shares of Cutera by 20.5% during the second quarter. Lapides Asset Management LLC now owns 35,200 shares of the medical device company’s stock worth $1,320,000 after acquiring an additional 6,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Cutera by 58.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 35,995 shares of the medical device company’s stock worth $1,350,000 after acquiring an additional 13,309 shares during the period. Rice Hall James & Associates LLC increased its stake in shares of Cutera by 11.1% during the second quarter. Rice Hall James & Associates LLC now owns 79,577 shares of the medical device company’s stock worth $2,984,000 after acquiring an additional 7,968 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Cutera during the second quarter worth about $231,000. Finally, Point72 Asset Management L.P. increased its stake in shares of Cutera by 808.1% during the second quarter. Point72 Asset Management L.P. now owns 710,900 shares of the medical device company’s stock worth $26,659,000 after acquiring an additional 632,612 shares during the period.

Cutera Company Profile

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Cutera, Inc, a medical device company, researches, develops, manufactures, markets, and services laser and energy-based aesthetics systems for practitioners worldwide. The company offers Secret PRO, a device that utilizes fractional CO2 for skin resurfacing and radio frequency (RF) microneedling for deep dermal remodeling; truSculpt flex, a bio-electrical muscle stimulation device to treat patients at all fitness levels; excel V+, a vascular and benign pigmented lesion treatment platform; truSculpt iD, for the non-surgical body sculpting market; and Secret RF, a fractional RF microneedling system for tissue coagulation and hemostasis.