Chardan Capital Downgrades Allurion Technologies (NYSE:ALUR) to Neutral

Allurion Technologies (NYSE:ALUR) was downgraded by Chardan Capital from a “buy” rating to a “neutral” rating in a report issued on Thursday,Briefing.com Automated Import reports.

Several other research analysts have also recently weighed in on the company. Roth Mkm started coverage on Allurion Technologies in a research report on Friday, September 6th. They issued a “buy” rating and a $2.00 price objective on the stock. TD Cowen started coverage on shares of Allurion Technologies in a report on Wednesday, October 2nd. They issued a “buy” rating and a $2.00 price target on the stock. Finally, Roth Capital upgraded shares of Allurion Technologies to a “strong-buy” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $2.88.

Allurion Technologies Price Performance

Shares of ALUR stock opened at $0.52 on Thursday. Allurion Technologies has a one year low of $0.49 and a one year high of $4.64. The firm has a 50-day moving average of $0.68 and a 200-day moving average of $1.05. The company has a market cap of $33.67 million, a P/E ratio of -0.59 and a beta of -0.37.

Allurion Technologies (NYSE:ALUR) last announced its earnings results on Tuesday, August 13th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $11.77 million during the quarter. As a group, research analysts expect that Allurion Technologies will post -0.4 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. Accredited Investors Inc. grew its stake in shares of Allurion Technologies Inc. (NYSE:ALUR) by 33.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,000 shares of the company’s stock after acquiring an additional 12,500 shares during the period. Accredited Investors Inc. owned 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.