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

Allurion Technologies Inc. (NYSE:ALUR) was the recipient of a significant 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 trading volume, of 2,640,000 shares, the short-interest ratio is presently 0.1 days. Approximately 3.1% of the shares of the stock are short sold.

Insider Buying and Selling at Allurion Technologies

In other Allurion Technologies news, CEO Shantanu Gaur acquired 8,000 shares of Allurion Technologies stock in a transaction on Friday, March 28th. The shares were bought at an average price of $3.35 per share, with a total value of $26,800.00. Following the completion of the purchase, the chief executive officer now owns 8,000 shares in the company, valued at $26,800. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 22.40% of the company’s stock.

Institutional Trading of Allurion Technologies

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 third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 516,330 shares of the company’s stock after purchasing an additional 149,484 shares during the period. Geode Capital Management LLC owned approximately 0.80% of Allurion Technologies worth $317,000 as of its most recent SEC filing. 21.39% of the stock is owned by institutional investors and hedge funds.

Allurion Technologies Stock Up 2.4 %

Allurion Technologies stock opened at $3.39 on Thursday. The stock has a market cap of $16.25 million, a price-to-earnings ratio of -0.28 and a beta of -0.59. Allurion Technologies has a 12-month low of $2.15 and a 12-month high of $98.75. The business’s 50-day simple moving average is $4.03 and its 200 day simple moving average is $9.44.

Allurion Technologies (NYSE:ALUR) last issued its quarterly earnings results on Wednesday, March 26th. The company reported ($7.00) EPS for the quarter, missing the consensus estimate 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. As a group, sell-side analysts expect that Allurion Technologies will post -9.96 EPS for the current year.

Analyst Ratings Changes

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

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.