Allurion Technologies (NYSE:ALUR) Lowered to Neutral Rating by Chardan Capital

Allurion Technologies (NYSE:ALUR) was downgraded by equities researchers at Chardan Capital from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat.com reports.

A number of other equities research analysts have also recently issued reports on ALUR. Roth Capital raised shares of Allurion Technologies to a “strong-buy” rating in a research note on Friday, September 6th. Roth Mkm started coverage on shares of Allurion Technologies in a research note on Friday, September 6th. They set a “buy” rating and a $2.00 target price on the stock. Finally, TD Cowen started coverage on shares of Allurion Technologies in a research note on Wednesday, October 2nd. They set a “buy” rating and a $2.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $2.88.

Allurion Technologies Price Performance

Shares of NYSE ALUR opened at $0.34 on Thursday. The stock has a market capitalization of $22.08 million, a price-to-earnings ratio of -0.71 and a beta of -0.37. Allurion Technologies has a 12 month low of $0.31 and a 12 month high of $4.54. The firm’s 50 day simple moving average is $0.67 and its 200-day simple moving average is $1.04.

Allurion Technologies (NYSE:ALUR) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $11.77 million during the quarter. Analysts anticipate that Allurion Technologies will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Allurion Technologies stock. CVI Holdings LLC purchased a new position in shares of Allurion Technologies Inc. (NYSE:ALUR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 521,440 shares of the company’s stock, valued at approximately $520,000. Allurion Technologies accounts for about 0.5% of CVI Holdings LLC’s portfolio, making the stock its 28th largest holding. CVI Holdings LLC owned 1.09% of Allurion Technologies as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.