Allurion Technologies’ (ALUR) Sell (E+) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their sell (e+) rating on shares of Allurion Technologies (NYSE:ALUR) in a report released on Wednesday,Weiss Ratings reports.

Several other brokerages have also commented on ALUR. Wall Street Zen lowered Allurion Technologies from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 16th. Zacks Research upgraded Allurion Technologies to a “hold” rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $9.25.

Allurion Technologies Stock Down 5.2%

Shares of NYSE ALUR opened at $2.00 on Wednesday. Allurion Technologies has a fifty-two week low of $1.93 and a fifty-two week high of $20.00. The business has a 50 day moving average price of $2.24 and a two-hundred day moving average price of $2.53. The firm has a market cap of $15.52 million, a PE ratio of -0.16 and a beta of -0.45.

Allurion Technologies (NYSE:ALUR) last issued its quarterly earnings data on Tuesday, August 19th. The company reported ($0.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.08. The business had revenue of $3.38 million for the quarter, compared to analyst estimates of $6.20 million. On average, analysts anticipate that Allurion Technologies will post -9.96 earnings per share for the current year.

Institutional Trading of Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. XTX Topco Ltd increased its stake in Allurion Technologies, Inc. (NYSE:ALUR) by 43.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,670 shares of the company’s stock after purchasing an additional 5,633 shares during the period. XTX Topco Ltd owned 0.25% of Allurion Technologies worth $45,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 21.39% of the company’s stock.

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.