Allurion Technologies (NYSE:ALUR) Coverage Initiated at Roth Mkm

Roth Mkm started coverage on shares of Allurion Technologies (NYSE:ALUR) in a research report released on Friday, MarketBeat.com reports. The brokerage issued a buy rating and a $2.00 price objective on the stock.

Separately, Chardan Capital reduced their price objective on shares of Allurion Technologies from $5.00 to $2.50 and set a buy rating for the company in a research report on Thursday, August 22nd.

Allurion Technologies Stock Performance

Shares of ALUR stock opened at $0.67 on Friday. Allurion Technologies has a 52-week low of $0.55 and a 52-week high of $6.43. The company has a 50-day simple moving average of $0.84 and a two-hundred day simple moving average of $1.61. The company has a market capitalization of $31.89 million, a price-to-earnings ratio of -0.18 and a beta of -0.32.

Allurion Technologies (NYSE:ALUR) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $11.77 million during the quarter. On average, sell-side analysts forecast that Allurion Technologies will post -0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Allurion Technologies stock. Accredited Investors Inc. grew its stake in shares of Allurion Technologies Inc. (NYSE:ALUR) by 33.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,000 shares of the company’s stock after acquiring an additional 12,500 shares during the period. 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 currently owned by hedge funds and other 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.