David Neal Purchases 7,500 Shares of Aclarion (NASDAQ:ACON) Stock

Aclarion, Inc. (NASDAQ:ACON) Director David Neal purchased 7,500 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was bought at an average cost of $2.40 per share, for a total transaction of $18,000.00. Following the acquisition, the director directly owned 30,002 shares in the company, valued at approximately $72,004.80. The trade was a 33.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Aclarion Stock Performance

Aclarion stock opened at $2.60 on Wednesday. Aclarion, Inc. has a fifty-two week low of $1.95 and a fifty-two week high of $12.03. The stock has a market cap of $7.49 million, a P/E ratio of -0.35 and a beta of 1.22. The firm’s fifty day moving average price is $2.68 and its 200-day moving average price is $2.98.

Aclarion (NASDAQ:ACON) last announced its earnings results on Thursday, August 6th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($0.07). The company had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.03 million. Aclarion had a negative return on equity of 59.34% and a negative net margin of 10,948.81%. On average, analysts predict that Aclarion, Inc. will post -4.51 earnings per share for the current year.

Aclarion announced that its Board of Directors has initiated a stock buyback program on Wednesday, April 22nd that permits the company to buyback $2.50 million in shares. This buyback authorization permits the company to reacquire up to 31% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

ACON has been the topic of several recent research reports. Wall Street Zen upgraded Aclarion from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings upgraded Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, August 5th. Finally, Ascendiant Capital Markets upped their target price on Aclarion from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Friday, May 29th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Aclarion currently has an average rating of “Hold” and a consensus target price of $7.50.

Aclarion Company Profile

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.