Aclarion, Inc. (NASDAQ:ACON) Short Interest Update

Aclarion, Inc. (NASDAQ:ACON) saw a large decrease in short interest in August. As of August 31st, there was short interest totaling 24,767 shares, a decrease of 60.0% from the August 15th total of 61,992 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily volume of 83,475 shares, the days-to-cover ratio is currently 0.3 days.

Insider Activity at Aclarion

In related news, Director Ryan Bond purchased 21,122 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average price of $2.37 per share, for a total transaction of $50,059.14. Following the completion of the transaction, the director owned 76,122 shares of the company’s stock, valued at approximately $180,409.14. This trade represents a 38.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired a total of 51,863 shares of company stock valued at $125,670 in the last quarter. 0.01% of the stock is currently owned by company insiders.

Aclarion Trading Up 1.6%

Aclarion stock traded up $0.04 during midday trading on Tuesday, reaching $2.62. The company’s stock had a trading volume of 9,542 shares, compared to its average volume of 351,975. Aclarion has a 52 week low of $1.95 and a 52 week high of $12.03. The business has a 50-day moving average price of $2.49 and a 200-day moving average price of $2.95. The stock has a market cap of $7.55 million, a PE ratio of -0.35 and a beta of 1.24.

Aclarion (NASDAQ:ACON) last issued its earnings results on Thursday, August 6th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.07). The business had revenue of $0.03 million for the quarter, compared to analyst estimates 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 predict that Aclarion will post -4.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on ACON. Wall Street Zen upgraded shares of Aclarion from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings raised shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, August 5th. Finally, Ascendiant Capital Markets increased their price target on shares of Aclarion from $7.00 to $7.50 and gave the stock a “buy” rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock 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.