Allurion Technologies Inc. (NYSE:ALUR – Get Free Report) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 526,100 shares, a decrease of 11.5% from the May 31st total of 594,200 shares. Currently, 1.7% of the company’s shares are sold short. Based on an average trading volume of 2,060,000 shares, the days-to-cover ratio is presently 0.3 days.
Wall Street Analysts Forecast Growth
Separately, Chardan Capital restated a “buy” rating and set a $5.00 target price on shares of Allurion Technologies in a research report on Wednesday, May 15th.
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Allurion Technologies Price Performance
Allurion Technologies (NYSE:ALUR – Get Free Report) last posted its earnings results on Tuesday, May 14th. The company reported $0.11 earnings per share for the quarter. The firm had revenue of $9.39 million for the quarter. As a group, equities analysts forecast that Allurion Technologies will post -0.65 EPS for the current fiscal year.
Institutional Trading of Allurion Technologies
A hedge fund recently bought a new stake in Allurion Technologies stock. Alpine Global Management LLC bought a new position in Allurion Technologies Inc. (NYSE:ALUR – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,536 shares of the company’s stock, valued at approximately $97,000. Alpine Global Management LLC owned about 0.07% of Allurion Technologies at the end of the most recent quarter. Hedge funds and other institutional investors own 21.39% of the company’s stock.
About Allurion Technologies
Allurion Technologies Inc focuses on ending obesity with a weight loss platform to treat people who are overweight. Its platform, the Allurion Program, features swallowable and procedure-less intragastric balloon for weight loss (the Allurion Balloon), as well as offers access to AI-powered remote patient monitoring tools, a proprietary behavior change program, secure messaging, and video telehealth that are delivered by the Allurion Virtual Care Suite.
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