Cutera, Inc. (NASDAQ: CUTR) shares rose on Wednesday Jan 4 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, raising the price target of stock.
Meanwhile, U.S. stocks opened higher on Wednesday as banking stocks led the Dow Jones Industrial Average closer to the 20,000 milestone.
The Dow DJIA, +0.18% gained 25 points, or 0.1%, to 19,906. The S&P 500 SPX, +0.36% climbed four points, or 0.2%, to 2,262. The Nasdaq Composite Index COMP, +0.50% added 13 points, or 0.3%, to 5,447.
Cutera, Inc. (NASDAQ: CUTR) had its price target increased by equities researchers at Maxim Group from $18.00 to $22.00. With a rating of Buy on the shares, Cutera, Inc. has a 52-week high of $17.95. The one-year price target of $18.00 is higher than the opening price of $17.50, resulting a fair amount of other analysts to issue statements on the stock in recent days.
Shares of Cutera, Inc. (NASDAQ: CUTR) opened at $17.50 on Tuesday and has traded in a range between, $17.45 and $17.55, and last traded at $17.48, an increase of $0.03 or 0.00 over the previous closing price.
Cutera, Inc. (NASDAQ: CUTR) currently has a market cap of 234.32M.
Cutera, Inc. (NASDAQ: CUTR) Average Daily Trading Volume
11,701 shares crossed the trading desk yesterday, below the norm, out of a total float 10,804,000. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for short periods will not mean much will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are considering.
Cutera, Inc. (NASDAQ: CUTR) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind, Cutera, Inc. (NASDAQ: CUTR) now has a 50-day MA of $16.38 and 200-day MA of $12.91. It has traded in a 52-week range between $9.83 – 17.9450 and today’s last price is 0.03% lower than the 52 week high of $17.95.
Earnings growth is a crucial factor to research when investing in stocks and investors seek companies that have been successful at growing their earnings at least 25% or more for the past 3 years.
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