Brent Ness Buys 5,234 Shares of Aclarion (NASDAQ:ACON) Stock

Aclarion, Inc. (NASDAQ:ACON) CEO Brent Ness acquired 5,234 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average cost of $2.31 per share, with a total value of $12,090.54. Following the completion of the acquisition, the chief executive officer directly owned 111,534 shares in the company, valued at approximately $257,643.54. This represents a 4.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Aclarion Price Performance

ACON opened at $2.60 on Wednesday. The stock’s 50 day moving average price is $2.68 and its 200 day moving average price is $2.98. The stock has a market cap of $7.49 million, a P/E ratio of -0.35 and a beta of 1.22. Aclarion, Inc. has a 12 month low of $1.95 and a 12 month high of $12.03.

Aclarion (NASDAQ:ACON) last announced its quarterly earnings results 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). Aclarion had a negative return on equity of 59.34% and a negative net margin of 10,948.81%.The business had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.03 million. Equities analysts anticipate that Aclarion, Inc. will post -4.51 EPS for the current year.

Aclarion announced that its board has approved a stock repurchase plan on Wednesday, April 22nd that allows the company to buyback $2.50 million in shares. This buyback authorization allows the company to purchase up to 31% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Ascendiant Capital Markets increased their price objective on Aclarion from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Friday, May 29th. Weiss Ratings raised Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen upgraded Aclarion from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.50.

About Aclarion

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.