Allurion Technologies Inc. (NYSE:ALUR) Sees Large Drop in Short Interest

Allurion Technologies Inc. (NYSE:ALUR) saw a large decline in short interest in February. As of February 15th, there was short interest totalling 190,500 shares, a decline of 46.8% from the January 31st total of 357,900 shares. Based on an average daily volume of 1,390,000 shares, the short-interest ratio is currently 0.1 days. Approximately 3.8% of the shares of the stock are sold short.

Allurion Technologies Stock Down 3.8 %

NYSE ALUR traded down $0.13 during mid-day trading on Friday, hitting $3.16. The stock had a trading volume of 44,585 shares, compared to its average volume of 390,456. The company has a 50 day simple moving average of $5.97 and a 200 day simple moving average of $11.62. The company has a market cap of $15.13 million, a price-to-earnings ratio of -0.26 and a beta of -0.69. Allurion Technologies has a 52-week low of $2.37 and a 52-week high of $98.75.

Analyst Upgrades and Downgrades

Separately, Chardan Capital downgraded shares of Allurion Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Allurion Technologies stock. Geode Capital Management LLC boosted its holdings in Allurion Technologies Inc. (NYSE:ALUR) by 40.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 516,330 shares of the company’s stock after acquiring an additional 149,484 shares during the period. Geode Capital Management LLC owned 0.80% of Allurion Technologies worth $317,000 as of its most recent filing with the Securities and Exchange Commission. 21.39% of the stock is currently owned by hedge funds and other institutional investors.

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.