Chardan Capital Reaffirms “Neutral” Rating for Allurion Technologies (NYSE:ALUR)

Allurion Technologies (NYSE:ALUR)‘s stock had its “neutral” rating reissued by analysts at Chardan Capital in a research note issued to investors on Thursday,Benzinga reports.

A number of other brokerages have also recently issued reports on ALUR. Weiss Ratings reissued a “sell (e+)” rating on shares of Allurion Technologies in a report on Wednesday, October 8th. Zacks Research upgraded Allurion Technologies to a “hold” rating in a research report on Tuesday, August 12th. Finally, Wall Street Zen lowered shares of Allurion Technologies from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 16th. 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.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.25.

Allurion Technologies Stock Down 9.6%

Shares of ALUR traded down $0.13 during mid-day trading on Thursday, hitting $1.26. 150,525 shares of the company’s stock were exchanged, compared to its average volume of 938,563. The stock has a market cap of $9.75 million, a price-to-earnings ratio of -0.12 and a beta of -0.46. Allurion Technologies has a twelve month low of $1.25 and a twelve month high of $16.81. The firm has a fifty day moving average of $1.91 and a two-hundred day moving average of $2.36.

Allurion Technologies (NYSE:ALUR) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($1.18) EPS for the quarter, topping the consensus estimate of ($2.45) by $1.27. The business had revenue of $2.66 million during the quarter, compared to the consensus estimate of $2.05 million. On average, equities analysts predict that Allurion Technologies will post -9.96 earnings per share for the current year.

Hedge Funds Weigh In On Allurion Technologies

A hedge fund recently raised its stake in Allurion Technologies stock. XTX Topco Ltd grew its holdings in shares of Allurion Technologies, Inc. (NYSE:ALUR) by 43.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,670 shares of the company’s stock after acquiring an additional 5,633 shares during the quarter. XTX Topco Ltd owned 0.25% of Allurion Technologies worth $45,000 at the end of the most recent quarter. 21.39% of the stock is owned by institutional investors.

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.