Allurion Technologies (NYSE:ALUR) Shares Down 3% – What’s Next?

Allurion Technologies, Inc. (NYSE:ALUR)’s stock price was down 3% during mid-day trading on Thursday . The company traded as low as $2.09 and last traded at $2.10. Approximately 62,378 shares traded hands during mid-day trading, an increase of 37% from the average daily volume of 45,549 shares. The stock had previously closed at $2.17.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wall Street Zen downgraded Allurion Technologies from a “hold” rating to a “strong sell” rating in a report on Saturday, August 16th. Zacks Research upgraded Allurion Technologies to a “hold” rating in a report on Tuesday, August 12th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Allurion Technologies in a report on Wednesday. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Allurion Technologies presently has a consensus rating of “Hold” and a consensus target price of $9.25.

Allurion Technologies Stock Performance

The firm has a market capitalization of $16.33 million, a PE ratio of -0.17 and a beta of -0.45. The firm has a fifty day moving average of $2.25 and a 200 day moving average of $2.54.

Allurion Technologies (NYSE:ALUR) last announced its earnings results on Tuesday, August 19th. The company reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.08. The company had revenue of $3.38 million for the quarter, compared to analysts’ expectations of $6.20 million. Research analysts forecast that Allurion Technologies, Inc. will post -9.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. XTX Topco Ltd lifted its stake in shares of Allurion Technologies, Inc. (NYSE:ALUR) by 43.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,670 shares of the company’s stock after buying an additional 5,633 shares during the quarter. XTX Topco Ltd owned 0.25% of Allurion Technologies worth $45,000 as of its most recent filing with the SEC. 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.