Short Interest in Allurion Technologies Inc. (NYSE:ALUR) Grows By 43.8%

Allurion Technologies Inc. (NYSE:ALUR) saw a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 594,200 shares, a growth of 43.8% from the May 15th total of 413,200 shares. Based on an average trading volume of 1,000,000 shares, the days-to-cover ratio is currently 0.6 days. Approximately 1.9% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Chardan Capital reiterated a “buy” rating and set a $5.00 price target on shares of Allurion Technologies in a research note on Wednesday, May 15th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Allurion Technologies stock. Alpine Global Management LLC purchased a new position in shares of Allurion Technologies Inc. (NYSE:ALUR) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 22,536 shares of the company’s stock, valued at approximately $97,000. Alpine Global Management LLC owned about 0.07% of Allurion Technologies at the end of the most recent reporting period. 21.39% of the stock is currently owned by institutional investors and hedge funds.

Allurion Technologies Stock Down 11.5 %

ALUR traded down $0.16 during midday trading on Friday, reaching $1.23. 47,550 shares of the company’s stock were exchanged, compared to its average volume of 65,477. The business has a 50-day simple moving average of $1.84 and a two-hundred day simple moving average of $2.60. The firm has a market capitalization of $58.98 million, a price-to-earnings ratio of -0.32 and a beta of -0.22. Allurion Technologies has a one year low of $1.04 and a one year high of $9.00.

Allurion Technologies (NYSE:ALUR) last issued its earnings results on Tuesday, May 14th. The company reported $0.11 earnings per share (EPS) for the quarter. The company had revenue of $9.39 million during the quarter. As a group, research analysts anticipate that Allurion Technologies will post -0.65 EPS 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.