In a market that has seen its fair share of volatility, ALUR stock has managed to carve out a notable milestone, reaching a 52-week high of $10.43 USD. According to InvestingPro data, the company’s overall financial health score stands at 1.14, indicating WEAK performance, with the stock showing high price volatility relative to the broader market. This peak comes as a bright spot for the company amidst a challenging economic landscape. However, the journey over the past year has been far from smooth for ALUR, with the stock showing a -87.51% total return over the past year. With a beta of -0.61 and significant debt burden, this stark contrast underscores the dynamic and often unpredictable nature of the stock market. For deeper insights into ALUR’s financial health and future prospects, including 18 additional ProTips and comprehensive analysis, explore the full research report on InvestingPro.
In other recent news, Allurion Technologies has announced a one-for-twenty-five reverse stock split of its common stock, a strategic move aimed at elevating the market price of Allurion’s common stock and addressing the deficiency regarding the NYSE’s minimum price requirement. This corporate action will consolidate every twenty-five shares of issued common stock into one share, reducing the company’s approximately 67.78 million shares outstanding to roughly 2.71 million shares post-split.
In recent developments, Allurion has reported third-quarter 2024 revenue at $5.4 million, a decrease from the previous year. Consequently, Allurion revised its full-year 2024 revenue guidance to fall between $30 million and $35 million. Despite these financial challenges, the company maintains a gross profit margin of 73%.
On the analyst front, TD Cowen maintains a Buy rating for Allurion, recognizing the company’s strategic plan to improve commercial performance and significantly cut operating costs. On the other hand, Chardan Capital Markets downgraded Allurion’s stock from Buy to Neutral, citing a pattern of underwhelming business performance.
Allurion is also planning substantial operational changes, including reducing its operating expenses by half and reducing its workforce by 50% by 2025. The company’s Virtual Care Suite is gaining traction, which is expected to contribute to future revenue growth. These are recent developments that are expected to shape the company’s future direction.
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