Allurion Technologies (NYSE:ALUR) Upgraded to “Strong-Buy” at Roth Capital

Roth Capital upgraded shares of Allurion Technologies (NYSE:ALUR) to a strong-buy rating in a research note issued to investors on Friday morning, Zacks.com reports.

Several other brokerages have also recently weighed in on ALUR. Chardan Capital decreased their target price on Allurion Technologies from $5.00 to $2.50 and set a buy rating for the company in a research note on Thursday, August 22nd. Roth Mkm initiated coverage on shares of Allurion Technologies in a research report on Friday. They set a buy rating and a $2.00 price objective for the company.

Allurion Technologies Price Performance

Shares of NYSE ALUR opened at $0.60 on Friday. Allurion Technologies has a 1-year low of $0.56 and a 1-year high of $6.43. The firm has a market capitalization of $28.53 million, a PE ratio of -0.16 and a beta of -0.33. The business’s fifty day moving average price is $0.84 and its two-hundred day moving average price is $1.64.

Allurion Technologies (NYSE:ALUR) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.01 EPS for the quarter. The firm had revenue of $11.77 million during the quarter. Equities research analysts expect that Allurion Technologies will post -0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allurion Technologies

An institutional investor recently bought a new position in Allurion Technologies stock. CVI Holdings LLC purchased a new stake in Allurion Technologies Inc. (NYSE:ALUR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 521,440 shares of the company’s stock, valued at approximately $520,000. Allurion Technologies makes up about 0.5% of CVI Holdings LLC’s portfolio, making the stock its 28th biggest position. CVI Holdings LLC owned approximately 1.09% of Allurion Technologies as of its most recent filing with the Securities and Exchange Commission. 21.39% of the stock is currently owned by hedge funds and other institutional investors.

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.