Allurion Technologies (NYSE:ALUR) Downgraded to Neutral Rating by Chardan Capital

Chardan Capital lowered shares of Allurion Technologies (NYSE:ALUR) from a buy rating to a neutral rating in a research note issued to investors on Thursday morning, MarketBeat reports.

Several other research firms also recently weighed in on ALUR. Roth Mkm assumed coverage on shares of Allurion Technologies in a research note on Friday, September 6th. They set a “buy” rating and a $2.00 price target for the company. TD Cowen assumed coverage on shares of Allurion Technologies in a research note on Wednesday, October 2nd. They set a “buy” rating and a $2.00 price target for the company. Finally, Roth Capital raised shares of Allurion Technologies to a “strong-buy” rating in a research note on Friday, September 6th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $2.88.

Allurion Technologies Stock Down 19.5 %

Shares of NYSE:ALUR traded down $0.08 during trading hours on Thursday, hitting $0.32. 761,091 shares of the company’s stock traded hands, compared to its average volume of 728,092. Allurion Technologies has a 1 year low of $0.31 and a 1 year high of $4.54. The business has a fifty day moving average price of $0.68 and a 200-day moving average price of $1.05.

Allurion Technologies (NYSE:ALUR) last announced its earnings results on Tuesday, August 13th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $11.77 million for the quarter. On average, equities analysts predict that Allurion Technologies will post -0.4 EPS for the current year.

Hedge Funds Weigh In On Allurion Technologies

A hedge fund recently raised its stake in Allurion Technologies stock. Accredited Investors Inc. grew its position in Allurion Technologies Inc. (NYSE:ALUR) by 33.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,000 shares of the company’s stock after purchasing an additional 12,500 shares during the quarter. Accredited Investors Inc. owned about 0.10% of Allurion Technologies worth $50,000 at the end of the most recent reporting period. 21.39% of the stock is owned by institutional investors.

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.