Aclarion (NASDAQ:ACON) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Aclarion (NASDAQ:ACON) issued its quarterly earnings results on Thursday. The company reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.07), FiscalAI reports. The company had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.03 million. Aclarion had a negative return on equity of 61.33% and a negative net margin of 10,948.81%.

Aclarion Price Performance

NASDAQ:ACON opened at $2.29 on Friday. Aclarion has a one year low of $1.95 and a one year high of $12.03. The company has a market cap of $5.63 million, a PE ratio of -0.31 and a beta of 1.21. The firm has a 50-day moving average of $2.82 and a 200-day moving average of $3.05.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wall Street Zen upgraded shares of Aclarion from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Ascendiant Capital Markets lifted their price target on Aclarion from $7.00 to $7.50 and gave the company a “buy” rating in a research note on Friday, May 29th. Finally, Weiss Ratings raised shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.50.

Aclarion declared that its Board of Directors has initiated a share repurchase plan on Wednesday, April 22nd that allows the company to buyback $2.50 million in shares. This buyback authorization allows the company to repurchase up to 31% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

About Aclarion

Aclarion, Inc, a healthcare technology company, leverages for Magnetic Resonance Spectroscopy (MRS) in the United States. It develops NOCISCAN Post-Processor suite of software applications comprising NOCICALC that receives the raw un-processed NOCISCAN MRS exam data and post-processes that raw data into final spectra and performs various degenerative pain biomarker; and NOCIGRAM, a clinical decision support software. The company was formerly known as Nocimed, Inc and changed its name to Aclarion, Inc in December 2021.