Aclarion (NASDAQ:ACON) Director Acquires $50,059.14 in Stock

Aclarion, Inc. (NASDAQ:ACON) Director Ryan Bond acquired 21,122 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average price of $2.37 per share, with a total value of $50,059.14. Following the transaction, the director directly owned 76,122 shares in the company, valued at $180,409.14. The trade was a 38.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Aclarion Stock Performance

Shares of ACON opened at $2.77 on Thursday. The firm has a market capitalization of $7.98 million, a price-to-earnings ratio of -0.37 and a beta of 1.21. The business’s fifty day moving average price is $2.68 and its two-hundred day moving average price is $2.98. Aclarion, Inc. has a 52 week low of $1.95 and a 52 week high of $12.03.

Aclarion (NASDAQ:ACON) last released 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 firm had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.03 million. Aclarion had a negative net margin of 10,948.81% and a negative return on equity of 59.34%. As a group, research analysts forecast that Aclarion, Inc. will post -4.51 EPS for the current year.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ACON. 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 shares of Aclarion from $7.00 to $7.50 and gave the stock a “buy” rating in a research report 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, August 5th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.