Allurion Technologies Inc. (NYSE:ALUR) Short Interest Up 27.3% in March

Allurion Technologies Inc. (NYSE:ALUR) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 160,000 shares, an increase of 27.3% from the February 28th total of 125,700 shares. Based on an average daily volume of 2,640,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 3.1% of the shares of the stock are sold short.

Allurion Technologies Price Performance

NYSE:ALUR traded up $0.06 during trading hours on Tuesday, hitting $3.27. The company’s stock had a trading volume of 64,338 shares, compared to its average volume of 714,656. Allurion Technologies has a twelve month low of $2.15 and a twelve month high of $98.75. The stock has a fifty day simple moving average of $4.02 and a 200-day simple moving average of $9.57. The company has a market capitalization of $15.68 million, a P/E ratio of -0.27 and a beta of -0.59.

Allurion Technologies (NYSE:ALUR) last posted its quarterly earnings results on Wednesday, March 26th. The company reported ($7.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.00) by ($2.00). The firm had revenue of $5.59 million for the quarter, compared to the consensus estimate of $5.60 million. On average, equities analysts predict that Allurion Technologies will post -9.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALUR. Chardan Capital reiterated a “neutral” rating and set a $2.50 price objective on shares of Allurion Technologies in a research note on Thursday, March 27th. Roth Mkm reaffirmed a “buy” rating and set a $16.00 price target on shares of Allurion Technologies in a report on Friday, March 21st.

Institutional Trading of Allurion Technologies

A hedge fund recently raised its stake in Allurion Technologies stock. Geode Capital Management LLC grew its position in Allurion Technologies Inc. (NYSE:ALUR) by 40.7% in the third quarter, according to its most recent filing with the SEC. 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 SEC. 21.39% of the stock is 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.