Allurion Technologies Inc. (NYSE:ALUR) Short Interest Up 209.5% in March

Allurion Technologies Inc. (NYSE:ALUR) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 495,200 shares, a growth of 209.5% from the March 15th total of 160,000 shares. Currently, 9.6% of the company’s stock are sold short. Based on an average trading volume of 2,670,000 shares, the days-to-cover ratio is presently 0.2 days.

Allurion Technologies Stock Down 2.7 %

Shares of ALUR traded down $0.07 during trading hours on Tuesday, reaching $2.49. 18,312 shares of the company traded hands, compared to its average volume of 709,789. The business has a fifty day moving average price of $3.35 and a 200-day moving average price of $8.53. Allurion Technologies has a 12-month low of $2.15 and a 12-month high of $88.75. The stock has a market capitalization of $11.94 million, a P/E ratio of -0.21 and a beta of -0.61.

Allurion Technologies (NYSE:ALUR) last posted its earnings results 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 company had revenue of $5.59 million for the quarter, compared to the consensus estimate of $5.60 million. As a group, research analysts predict that Allurion Technologies will post -9.96 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Allurion Technologies stock. Geode Capital Management LLC grew its holdings in Allurion Technologies Inc. (NYSE:ALUR) by 40.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing. Hedge funds and other institutional investors own 21.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Chardan Capital reaffirmed a “neutral” rating and issued a $2.50 price target on shares of Allurion Technologies in a report on Thursday, March 27th. Roth Mkm restated a “buy” rating and set a $16.00 target price on shares of Allurion Technologies in a research note on Friday, March 21st.

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.