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

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

Allurion Technologies Trading Up 2.4 %

ALUR opened at $3.39 on Thursday. The stock’s 50 day simple moving average is $4.03 and its 200-day simple moving average is $9.44. The stock has a market cap of $16.25 million, a PE ratio of -0.28 and a beta of -0.59. Allurion Technologies has a 1 year low of $2.15 and a 1 year high of $98.75.

Allurion Technologies (NYSE:ALUR) last announced its quarterly earnings data on Wednesday, March 26th. The company reported ($7.00) earnings per share (EPS) 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. Equities analysts forecast that Allurion Technologies will post -9.96 earnings per share for the current fiscal year.

Insider Activity at Allurion Technologies

In other Allurion Technologies news, CEO Shantanu Gaur acquired 8,000 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were acquired at an average cost of $3.35 per share, for a total transaction of $26,800.00. Following the completion of the purchase, the chief executive officer now owns 8,000 shares of the company’s stock, valued at approximately $26,800. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 22.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Allurion Technologies stock. Geode Capital Management LLC increased its stake in shares of Allurion Technologies Inc. (NYSE:ALUR) by 40.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 516,330 shares of the company’s stock after buying an additional 149,484 shares during the quarter. Geode Capital Management LLC owned 0.80% of Allurion Technologies worth $317,000 at the end of the most recent reporting period. 21.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ALUR shares. Roth Mkm reissued a “buy” rating and issued a $16.00 price objective on shares of Allurion Technologies in a research report on Friday, March 21st. Chardan Capital reissued a “neutral” rating and issued a $2.50 price target on shares of Allurion Technologies in a report on Thursday, March 27th.

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.