StockNews.com Initiates Coverage on Cutera (NASDAQ:CUTR)

Analysts at StockNews.com assumed coverage on shares of Cutera (NASDAQ:CUTR) in a research note issued to investors on Thursday. The brokerage set a “sell” rating on the medical device company’s stock.

Cutera Trading Up 16.4 %

Shares of NASDAQ CUTR opened at $0.51 on Thursday. Cutera has a twelve month low of $0.28 and a twelve month high of $3.10. The company has a market capitalization of $10.29 million, a price-to-earnings ratio of -0.08 and a beta of 1.32. The firm has a 50-day moving average of $0.41 and a two-hundred day moving average of $0.64.

Cutera (NASDAQ:CUTR) last issued its earnings results on Thursday, November 7th. The medical device company reported ($1.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.98). The firm had revenue of $32.50 million during the quarter, compared to the consensus estimate of $32.57 million. During the same quarter last year, the company earned ($2.22) EPS. As a group, research analysts predict that Cutera will post -5.78 earnings per share for the current year.

Hedge Funds Weigh In On Cutera

An institutional investor recently raised its position in Cutera stock. Squarepoint Ops LLC increased its holdings in shares of Cutera, Inc. (NASDAQ:CUTR) by 164.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,964 shares of the medical device company’s stock after purchasing an additional 70,870 shares during the period. Squarepoint Ops LLC owned approximately 0.57% of Cutera worth $172,000 at the end of the most recent quarter. Institutional investors and hedge funds own 90.70% of the company’s stock.

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.