Allurion Technologies (NYSE:ALUR) Trading Down 8.9% – Here’s What Happened

Allurion Technologies, Inc. (NYSE:ALUR)’s stock price was down 8.9% during trading on Thursday . The stock traded as low as $1.06 and last traded at $1.0750. Approximately 116,951 shares were traded during mid-day trading, an increase of 14% from the average daily volume of 102,997 shares. The stock had previously closed at $1.18.

Analyst Upgrades and Downgrades

ALUR has been the subject of a number of analyst reports. Chardan Capital reissued a “neutral” rating on shares of Allurion Technologies in a report on Thursday, November 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Allurion Technologies in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.25.

Allurion Technologies Price Performance

The business’s 50 day moving average price is $1.52 and its 200 day moving average price is $1.91. The firm has a market cap of $13.20 million, a PE ratio of -0.10 and a beta of -0.43.

Allurion Technologies (NYSE:ALUR) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($1.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.45) by $1.27. The firm had revenue of $2.66 million during the quarter, compared to analyst estimates of $2.05 million. As a group, analysts predict that Allurion Technologies, Inc. will post -9.96 earnings per share for the current year.

Institutional Investors Weigh In On Allurion Technologies

A hedge fund recently bought a new stake in Allurion Technologies stock. Lunt Capital Management Inc. purchased a new position in Allurion Technologies, Inc. (NYSE:ALUR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 166,666 shares of the company’s stock, valued at approximately $205,000. Lunt Capital Management Inc. owned approximately 1.36% of Allurion Technologies at the end of the most recent quarter. 21.39% of the stock is currently owned by hedge funds and other institutional investors.

About Allurion Technologies

Allurion Technologies is a medical technology company specializing in non-surgical weight-loss solutions. The company’s flagship product, the Allurion Gastric Balloon, is a swallowable, fluid-filled device designed to promote weight loss by creating a sense of fullness in the stomach. Unlike traditional intragastric balloons, the Allurion device does not require endoscopic insertion or removal, as it self-deflates and is naturally expelled after treatment, simplifying the patient experience and reducing clinical resource requirements.

In addition to its gastric balloon, Allurion has developed a comprehensive digital health platform that integrates wireless tracking devices, a mobile application, and remote coaching to support patients throughout their weight-loss journey.