Cutera, Inc. (NASDAQ:CUTR) was the target of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 761,000 shares, a decline of 9.4% from the January 15th total of 839,500 shares. Approximately 5.6% of the shares of the company are sold short. Based on an average daily volume of 176,700 shares, the short-interest ratio is currently 4.3 days.
CUTR stock traded down $0.62 during midday trading on Friday, hitting $27.01. The company’s stock had a trading volume of 114,286 shares, compared to its average volume of 192,241. The stock’s 50-day moving average price is $32.24 and its 200 day moving average price is $31.97. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.18. Cutera has a 1 year low of $13.65 and a 1 year high of $39.15. The stock has a market cap of $390.70 million, a price-to-earnings ratio of -10.27 and a beta of 1.12.
A number of hedge funds have recently bought and sold shares of CUTR. Caxton Associates LP bought a new position in shares of Cutera during the 4th quarter valued at about $374,000. UBS Asset Management Americas Inc. bought a new position in shares of Cutera during the 4th quarter valued at about $267,000. Bank of New York Mellon Corp increased its position in shares of Cutera by 5.1% during the 4th quarter. Bank of New York Mellon Corp now owns 179,910 shares of the medical device company’s stock valued at $6,442,000 after purchasing an additional 8,709 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Cutera by 179.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 83,478 shares of the medical device company’s stock valued at $2,989,000 after purchasing an additional 53,581 shares during the last quarter. Finally, Guggenheim Capital LLC bought a new position in shares of Cutera during the 4th quarter valued at about $211,000. 89.87% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on CUTR shares. BidaskClub cut Cutera from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Stephens boosted their price objective on Cutera from $35.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. ValuEngine cut Cutera from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Zacks Investment Research raised Cutera from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Cutera presently has a consensus rating of “Hold” and an average target price of $43.50.
Cutera, Inc, a medical device company, designs, develops, manufactures, markets, and services laser and other energy based aesthetics systems worldwide. The company offers enlighten platform, a laser system that is used for tattoo removal, as well as for the treatment of benign pigmented lesions; excel HR platform, a hair removal solution for various skin types; and truSculpt, a high-powered radio frequency platform designed for deep tissue heating.
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