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

Allurion Technologies Inc. (NYSE:ALUR) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 571,400 shares, a growth of 8.6% from the August 15th total of 526,300 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average daily volume of 1,340,000 shares, the short-interest ratio is currently 0.4 days.

Institutional Trading of Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. Accredited Investors Inc. lifted its holdings in Allurion Technologies Inc. (NYSE:ALUR) by 33.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,000 shares of the company’s stock after purchasing an additional 12,500 shares during the period. Accredited Investors Inc. owned 0.10% of Allurion Technologies worth $50,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 21.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Roth Mkm initiated coverage on Allurion Technologies in a research report on Friday, September 6th. They set a “buy” rating and a $2.00 price objective for the company. Roth Capital raised shares of Allurion Technologies to a “strong-buy” rating in a research report on Friday, September 6th. Finally, Chardan Capital lowered their price objective on shares of Allurion Technologies from $5.00 to $2.50 and set a “buy” rating on the stock in a research report on Thursday, August 22nd.

Allurion Technologies Trading Up 8.6 %

NYSE ALUR traded up $0.05 on Wednesday, reaching $0.64. The stock had a trading volume of 97,961 shares, compared to its average volume of 856,394. Allurion Technologies has a 1 year low of $0.55 and a 1 year high of $6.43. The business has a 50 day moving average price of $0.76 and a 200 day moving average price of $1.49. The company has a market capitalization of $30.72 million, a price-to-earnings ratio of -0.17 and a beta of -0.33.

Allurion Technologies (NYSE:ALUR) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.01 EPS for the quarter. The firm had revenue of $11.77 million during the quarter. On average, analysts anticipate that Allurion Technologies will post -0.3 earnings per share for the current fiscal year.

Allurion Technologies Company Profile

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.