Allurion Technologies Inc. (NYSE:ALUR) Short Interest Update

Allurion Technologies Inc. (NYSE:ALUR) was the recipient of a large growth in short interest in November. As of November 30th, there was short interest totalling 1,070,000 shares, a growth of 17.6% from the November 15th total of 909,600 shares. Approximately 2.3% of the company’s stock are short sold. Based on an average trading volume of 368,900 shares, the short-interest ratio is currently 2.9 days.

Allurion Technologies Trading Down 6.7 %

Shares of Allurion Technologies stock traded down $0.02 on Monday, reaching $0.32. 79,039 shares of the company were exchanged, compared to its average volume of 737,772. The stock has a fifty day moving average price of $0.57 and a 200-day moving average price of $0.81. The firm has a market capitalization of $20.77 million, a price-to-earnings ratio of -0.68 and a beta of -0.56. Allurion Technologies has a fifty-two week low of $0.31 and a fifty-two week high of $4.00.

Hedge Funds Weigh In On Allurion Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Accredited Investors Inc. boosted its position in shares of Allurion Technologies by 33.3% in the second quarter. Accredited Investors Inc. now owns 50,000 shares of the company’s stock worth $50,000 after buying an additional 12,500 shares during the period. CVI Holdings LLC acquired a new position in Allurion Technologies during the second quarter valued at $520,000. Finally, Geode Capital Management LLC boosted its position in Allurion Technologies by 40.7% during the 3rd quarter. Geode Capital Management LLC now owns 516,330 shares of the company’s stock worth $317,000 after acquiring an additional 149,484 shares during the period. Institutional investors and hedge funds own 21.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ALUR shares. Chardan Capital cut Allurion Technologies from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. TD Cowen initiated coverage on shares of Allurion Technologies in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $2.00 target price on the stock. Roth Mkm started coverage on Allurion Technologies in a report on Friday, September 6th. They issued a “buy” rating and a $2.00 price objective for the company. Finally, Roth Capital raised Allurion Technologies to a “strong-buy” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $2.88.

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.