Nucor earnings beat by $0.08, revenue fell short of estimates
In a recent transaction filed with the Securities and Exchange Commission, Gaur Shantanu, the Chief Executive Officer of Allurion Technologies, Inc. (NASDAQ:ALUR), acquired 8,000 shares of the company’s common stock. The shares were purchased at $3.35 each, totaling approximately $26,800, slightly above the current trading price of $3.31. This purchase comes as the stock has experienced a significant 92% decline over the past year.
Following this acquisition, Shantanu’s direct ownership stands at 8,000 shares. The filing also notes indirect holdings through two trusts: The Shantanu K. Gaur Revocable Trust Of 2021 and The Gaur Family Irrevocable Trust Of 2021, with 40,124 and 21,908 shares, respectively. However, Shantanu disclaims beneficial ownership of the shares held by these trusts, except to the extent of his pecuniary interest. The company, currently valued at approximately $20 million in market capitalization, maintains a current ratio of 1.44, indicating adequate liquidity to meet short-term obligations.
This acquisition reflects continued confidence in Allurion Technologies, a company specialized in surgical and medical instruments. Investors may view such insider transactions as a signal of the executive’s belief in the company’s future prospects. According to InvestingPro analysis, the stock appears undervalued despite facing significant challenges, with 15+ additional ProTips available to help investors make informed decisions about this volatile stock.
In other recent news, Allurion Technologies reported its fourth-quarter 2024 earnings, revealing a decrease in revenue to $5.6 million from $8.2 million in the same quarter of the previous year. The company also announced a reduction in operating expenses by 39% year-over-year and projected a 2025 revenue forecast of $30 million, down 8% from the $32 million reported in 2024. Despite these challenges, Allurion raised $15 million in net cash through equity offerings, positioning the company to fund operations into 2026. In a regulatory update, Allurion received clearance from the French National Agency for the Safety of Medicines and Health Products to resume sales of its Allurion Balloon in France. Chardan Capital Markets maintained a Neutral rating on Allurion, with a price target of $2.50, noting tempered expectations for sales in France to return to previous levels. The company is also focusing on strategic initiatives, including product innovations and market expansion, and is preparing for a potential U.S. market entry pending FDA approval. Allurion aims to reduce operating expenses by 50% in 2025 and reach EBITDA positive status by 2026.
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