Allurion Technologies Inc. (NYSE:ALUR – Get Free Report) was the recipient of a large growth in short interest in the month of 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. Currently, 1.2% of the shares of the company are sold short. Based on an average daily volume of 1,340,000 shares, the short-interest ratio is currently 0.4 days.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. Roth Capital raised shares of Allurion Technologies to a “strong-buy” rating in a report on Friday, September 6th. Chardan Capital dropped their price target 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. Finally, Roth Mkm assumed coverage on shares of Allurion Technologies in a research note on Friday, September 6th. They issued a “buy” rating and a $2.00 price target for the company.
View Our Latest Report on Allurion Technologies
Allurion Technologies Stock Performance
Allurion Technologies (NYSE:ALUR – Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $11.77 million for the quarter. Equities research analysts anticipate that Allurion Technologies will post -0.3 EPS for the current fiscal year.
Hedge Funds Weigh In On Allurion Technologies
An institutional investor recently raised its position in Allurion Technologies stock. Accredited Investors Inc. lifted its position in Allurion Technologies Inc. (NYSE:ALUR – Free Report) by 33.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,000 shares of the company’s stock after acquiring an additional 12,500 shares during the period. Accredited Investors Inc. owned about 0.10% of Allurion Technologies worth $50,000 as of its most recent SEC filing. 21.39% of the stock is currently owned by institutional investors and hedge funds.
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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