Allurion Technologies (NYSE:ALUR) Shares Down 8.9% – Should You Sell?

Allurion Technologies, Inc. (NYSE:ALUR) shares fell 8.9% on Thursday . The company traded as low as $1.06 and last traded at $1.0750. 116,951 shares changed hands during trading, an increase of 14% from the average session volume of 102,997 shares. The stock had previously closed at $1.18.

Wall Street Analysts Forecast Growth

ALUR has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Allurion Technologies in a report on Wednesday, January 21st. Chardan Capital restated a “neutral” rating on shares of Allurion Technologies in a research report on Thursday, November 20th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.25.

Allurion Technologies Price Performance

The firm has a market capitalization of $13.63 million, a price-to-earnings ratio of -0.11 and a beta of -0.43. The stock’s 50 day moving average price is $1.51 and its two-hundred day moving average price is $1.90.

Allurion Technologies (NYSE:ALUR) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($1.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.45) by $1.27. The firm had revenue of $2.66 million for the quarter, compared to the consensus estimate of $2.05 million. As a group, equities research analysts anticipate that Allurion Technologies, Inc. will post -9.96 EPS for the current fiscal year.

Institutional Trading of Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. XTX Topco Ltd increased its position in shares of Allurion Technologies, Inc. (NYSE:ALUR) by 43.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,670 shares of the company’s stock after buying an additional 5,633 shares during the quarter. XTX Topco Ltd owned about 0.25% of Allurion Technologies worth $45,000 at the end of the most recent quarter. 21.39% of the stock is currently owned by hedge funds and other institutional investors.

Allurion Technologies Company Profile

Allurion Technologies is a medical technology company specializing in non-surgical weight-loss solutions. The company’s flagship product, the Allurion Gastric Balloon, is a swallowable, fluid-filled device designed to promote weight loss by creating a sense of fullness in the stomach. Unlike traditional intragastric balloons, the Allurion device does not require endoscopic insertion or removal, as it self-deflates and is naturally expelled after treatment, simplifying the patient experience and reducing clinical resource requirements.

In addition to its gastric balloon, Allurion has developed a comprehensive digital health platform that integrates wireless tracking devices, a mobile application, and remote coaching to support patients throughout their weight-loss journey.