Allurion Technologies Inc. (NYSE:ALUR) Sees Significant Growth in Short Interest

Allurion Technologies Inc. (NYSE:ALUR) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 160,000 shares, an increase of 27.3% from the February 28th total of 125,700 shares. Based on an average daily volume of 2,640,000 shares, the short-interest ratio is presently 0.1 days. Currently, 3.1% of the company’s shares are sold short.

Allurion Technologies Stock Up 1.9 %

Shares of NYSE ALUR traded up $0.06 during trading on Tuesday, reaching $3.27. The company had a trading volume of 64,338 shares, compared to its average volume of 714,656. The stock has a market cap of $15.68 million, a P/E ratio of -0.27 and a beta of -0.59. The company’s fifty day moving average price is $4.02 and its 200-day moving average price is $9.57. Allurion Technologies has a 12 month low of $2.15 and a 12 month high of $98.75.

Allurion Technologies (NYSE:ALUR) last posted its quarterly earnings data on Wednesday, March 26th. The company reported ($7.00) EPS for the quarter, missing analysts’ consensus estimates of ($5.00) by ($2.00). The company had revenue of $5.59 million during the quarter, compared to the consensus estimate of $5.60 million. As a group, equities analysts predict that Allurion Technologies will post -9.96 earnings per share for the current year.

Institutional Investors Weigh In On Allurion Technologies

A hedge fund recently raised its stake in Allurion Technologies stock. Geode Capital Management LLC boosted its position in Allurion Technologies Inc. (NYSE:ALUR) by 40.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 516,330 shares of the company’s stock after buying an additional 149,484 shares during the period. Geode Capital Management LLC owned approximately 0.80% of Allurion Technologies worth $317,000 at the end of the most recent quarter. 21.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ALUR shares. Chardan Capital reiterated a “neutral” rating and issued a $2.50 price objective on shares of Allurion Technologies in a report on Thursday, March 27th. Roth Mkm restated a “buy” rating and issued a $16.00 price target on shares of Allurion Technologies in a research report on Friday, March 21st.

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.