Ground Swell Capital LLC Purchases Shares of 24,602 Cutera, Inc. (NASDAQ:CUTR)

Ground Swell Capital LLC acquired a new stake in shares of Cutera, Inc. (NASDAQ:CUTR) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 24,602 shares of the medical device company’s stock, valued at approximately $37,000. Ground Swell Capital LLC owned 0.12% of Cutera as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CUTR. Dynamic Technology Lab Private Ltd bought a new position in Cutera during the 4th quarter valued at about $102,000. Findell Capital Management LLC bought a new stake in Cutera during the 4th quarter worth approximately $39,000. Opti Capital Management LP acquired a new stake in Cutera during the 4th quarter valued at $1,755,000,000. BNP Paribas Financial Markets boosted its stake in Cutera by 7.1% in the first quarter. BNP Paribas Financial Markets now owns 75,833 shares of the medical device company’s stock worth $111,000 after purchasing an additional 5,017 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of Cutera in the first quarter valued at $33,000. Institutional investors and hedge funds own 90.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Piper Sandler reiterated a “neutral” rating and set a $1.00 target price (down from $3.00) on shares of Cutera in a research report on Friday, August 9th. Stephens reduced their price objective on Cutera from $10.00 to $5.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $5.33.

Cutera Stock Performance

Shares of CUTR stock opened at $0.72 on Wednesday. The firm’s 50 day moving average price is $1.10 and its two-hundred day moving average price is $1.67. Cutera, Inc. has a 52-week low of $0.65 and a 52-week high of $10.11. The stock has a market cap of $14.51 million, a PE ratio of -0.10 and a beta of 1.32.

Cutera (NASDAQ:CUTR) last posted its quarterly earnings results on Thursday, August 8th. The medical device company reported ($1.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.55) by $0.32. The company had revenue of $34.38 million during the quarter, compared to the consensus estimate of $39.47 million. As a group, sell-side analysts predict that Cutera, Inc. will post -4.74 earnings per share for the current fiscal year.

Cutera 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 deep dermal remodeling; truFlex, a bio-electrical muscle stimulation device to treat patients at all fitness levels; and excel V+, a vascular and benign pigmented lesion treatment platform.