Short Interest in Allurion Technologies Inc. (NYSE:ALUR) Decreases By 36.5%

Allurion Technologies Inc. (NYSE:ALUR) was the target of a large drop in short interest in July. As of July 15th, there was short interest totalling 648,000 shares, a drop of 36.5% from the June 30th total of 1,020,000 shares. Based on an average daily volume of 1,260,000 shares, the days-to-cover ratio is currently 0.5 days. Approximately 1.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Allurion Technologies stock. Accredited Investors Inc. lifted its holdings in shares of Allurion Technologies Inc. (NYSE:ALUR) by 33.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,000 shares of the company’s stock after acquiring an additional 12,500 shares during the period. Accredited Investors Inc. owned 0.10% of Allurion Technologies worth $50,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 21.39% of the company’s stock.

Analyst Ratings Changes

Separately, Chardan Capital restated a “buy” rating and set a $5.00 price objective on shares of Allurion Technologies in a research report on Wednesday, May 15th.

Allurion Technologies Price Performance

Shares of ALUR stock traded down $0.01 during trading on Friday, reaching $0.86. The company’s stock had a trading volume of 152,535 shares, compared to its average volume of 492,449. The company has a market capitalization of $41.22 million, a price-to-earnings ratio of -0.23 and a beta of -0.30. Allurion Technologies has a 1-year low of $0.81 and a 1-year high of $9.00. The stock’s 50-day moving average price is $1.31 and its 200 day moving average price is $2.13.

Allurion Technologies (NYSE:ALUR) last posted its quarterly earnings results on Tuesday, May 14th. The company reported $0.11 earnings per share (EPS) for the quarter. The company had revenue of $9.39 million during the quarter. On average, sell-side analysts anticipate that Allurion Technologies will post -0.65 EPS for the current fiscal year.

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.