Allurion Technologies Inc. (NYSE:ALUR) Short Interest Up 93.9% in June

Allurion Technologies Inc. (NYSE:ALUR) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 1,020,000 shares, an increase of 93.9% from the June 15th total of 526,100 shares. Based on an average trading volume of 1,250,000 shares, the days-to-cover ratio is currently 0.8 days. Approximately 2.5% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

Allurion Technologies Price Performance

Shares of Allurion Technologies stock traded up $0.02 during trading on Friday, reaching $1.06. 152,778 shares of the stock traded hands, compared to its average volume of 1,084,292. The company has a market capitalization of $50.83 million, a price-to-earnings ratio of -0.28 and a beta of -0.30. The business has a fifty day simple moving average of $1.53 and a two-hundred day simple moving average of $2.31. Allurion Technologies has a 52-week low of $0.83 and a 52-week high of $9.00.

Allurion Technologies (NYSE:ALUR) last issued its quarterly earnings data on Tuesday, May 14th. The company reported $0.11 earnings per share for the quarter. The firm had revenue of $9.39 million for the quarter. On average, research analysts predict that Allurion Technologies will post -0.65 earnings per share for the current fiscal year.

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.