Short Interest in Allurion Technologies Inc. (NYSE:ALUR) Grows By 116.0%

Allurion Technologies Inc. (NYSE:ALUR) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 629,700 shares, an increase of 116.0% from the March 31st total of 291,500 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average trading volume of 985,800 shares, the short-interest ratio is currently 0.6 days.

Wall Street Analysts Forecast Growth

ALUR has been the topic of several recent analyst reports. Chardan Capital initiated coverage on Allurion Technologies in a research note on Thursday, April 4th. They set a “buy” rating and a $5.00 price objective on the stock. Jefferies Financial Group initiated coverage on Allurion Technologies in a research note on Friday, February 9th. They set a “buy” rating and a $5.00 target price on the stock.

Allurion Technologies Trading Up 3.8 %

Shares of Allurion Technologies stock traded up $0.07 on Friday, reaching $1.92. The stock had a trading volume of 43,639 shares, compared to its average volume of 3,120,637. Allurion Technologies has a 1 year low of $1.56 and a 1 year high of $9.00. The business’s 50 day moving average is $2.39 and its two-hundred day moving average is $3.23.

Allurion Technologies (NYSE:ALUR) last announced its quarterly earnings results on Thursday, March 21st. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.12). The firm had revenue of $8.24 million for the quarter, compared to analysts’ expectations of $8.20 million. On average, equities analysts expect that Allurion Technologies will post -0.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allurion Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. RTW Investments LP bought a new position in Allurion Technologies during the third quarter valued at approximately $14,868,000. Alpine Global Management LLC bought a new position in Allurion Technologies during the third quarter valued at approximately $97,000. Finally, Accredited Investors Inc. bought a new position in Allurion Technologies during the third quarter valued at approximately $161,000. 21.39% of the stock is owned by hedge funds and other institutional investors.

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.