Short Interest in Allurion Technologies Inc. (NYSE:ALUR) Expands By 8.6%

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

Allurion Technologies Trading Up 8.6 %

Allurion Technologies stock traded up $0.05 on Wednesday, reaching $0.64. 97,961 shares of the stock were exchanged, compared to its average volume of 856,394. The firm has a fifty day moving average price of $0.75 and a two-hundred day moving average price of $1.49. The stock has a market cap of $30.72 million, a PE ratio of -0.17 and a beta of -0.33. Allurion Technologies has a twelve month low of $0.55 and a twelve month high of $6.43.

Allurion Technologies (NYSE:ALUR) last announced its quarterly earnings data 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. Equities analysts anticipate that Allurion Technologies will post -0.3 EPS 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 Allurion Technologies Inc. (NYSE:ALUR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 521,440 shares of the company’s stock, valued at approximately $520,000. Allurion Technologies makes up 0.5% of CVI Holdings LLC’s investment portfolio, making the stock its 28th largest holding. CVI Holdings LLC owned approximately 1.09% of Allurion Technologies at the end of the most recent quarter. 21.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ALUR. Chardan Capital cut their target price on shares of Allurion Technologies from $5.00 to $2.50 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Roth Mkm began coverage on Allurion Technologies in a report on Friday, September 6th. They set a “buy” rating and a $2.00 price objective for the company. Finally, Roth Capital upgraded Allurion Technologies to a “strong-buy” rating in a research note on Friday, September 6th.

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.