Aclarion, Inc. (NASDAQ:ACON) Stock Short Interest Falls 49.7%

Aclarion, Inc. (NASDAQ:ACON) was the target of a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 24,624 shares, a decline of 49.7% from the September 30th total of 48,934 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average trading volume of 23,545 shares, the days-to-cover ratio is currently 1.0 days.

Aclarion Price Performance

Aclarion stock traded down $0.02 during trading hours on Friday, hitting $1.95. The company had a trading volume of 18,130 shares, compared to its average volume of 19,220. The firm has a market cap of $5.62 million, a PE ratio of -0.26 and a beta of 1.20. Aclarion has a one year low of $1.85 and a one year high of $9.36. The firm has a 50-day moving average of $2.33 and a 200 day moving average of $2.86.

Aclarion (NASDAQ:ACON) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.07). The firm had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.03 million. Aclarion had a negative return on equity of 59.34% and a negative net margin of 10,948.81%. As a group, research analysts expect that Aclarion will post -4.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.50.

Insider Activity

In related news, Director Ryan Bond bought 21,122 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average price of $2.37 per share, for a total transaction of $50,059.14. Following the completion of the acquisition, the director owned 76,122 shares of the company’s stock, valued at approximately $180,409.14. The trade was a 38.40% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 51,863 shares of company stock valued at $125,670 over the last 90 days. 0.01% of the stock is currently owned by insiders.

Aclarion Company Profile

Aclarion, Inc is a medical technology company focused on improving the diagnosis and treatment of chronic low back pain. The company develops data-driven tools intended to help physicians identify the spinal discs most likely to be contributing to a patient’s pain and support more informed treatment decisions.

Its principal product is Nociscan, a cloud-based software platform that analyzes magnetic resonance spectroscopy data from the spine. Using proprietary algorithms and chemical biomarkers associated with disc degeneration, Nociscan is designed to provide information about disc health and help distinguish potentially painful discs from discs that may not be the primary source of symptoms.

Aclarion’s technology is intended for use by spine specialists, radiologists and other healthcare providers as an adjunct to conventional imaging and clinical evaluation.