Aclarion (NASDAQ:ACON) Announces Earnings Results, Beats Expectations By $0.21 EPS

Aclarion (NASDAQ:ACON) issued its quarterly earnings results on Thursday. The company reported ($0.94) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.21, FiscalAI reports. The firm had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.03 million. Aclarion had a negative net margin of 10,948.81% and a negative return on equity of 59.34%.

Aclarion Price Performance

Shares of NASDAQ:ACON traded down $0.18 during trading on Thursday, reaching $1.56. The company had a trading volume of 13,673 shares, compared to its average volume of 296,306. Aclarion has a fifty-two week low of $1.54 and a fifty-two week high of $9.36. The stock’s fifty day moving average price is $2.27 and its 200 day moving average price is $2.83. The firm has a market capitalization of $4.49 million, a price-to-earnings ratio of -0.21 and a beta of 1.21.

Insider Buying and Selling at Aclarion

In other news, Director Ryan Bond acquired 21,122 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average cost of $2.37 per share, for a total transaction of $50,059.14. Following the transaction, the director directly owned 76,122 shares in the company, valued at approximately $180,409.14. This represents a 38.40% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired 51,863 shares of company stock worth $125,670 over the last three months. 0.01% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aclarion in a report on Tuesday. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.50.

About Aclarion

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.