Insider Buying: Aclarion (NASDAQ:ACON) CFO Buys 10,000 Shares

Aclarion, Inc. (NASDAQ:ACON) CFO Gregory Gould acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $2.45 per share, with a total value of $24,500.00. Following the completion of the acquisition, the chief financial officer owned 60,000 shares in the company, valued at $147,000. The trade was a 20.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Aclarion Trading Up 12.6%

Shares of ACON stock opened at $2.77 on Tuesday. Aclarion, Inc. has a 12-month low of $1.95 and a 12-month high of $12.03. The stock has a market capitalization of $7.98 million, a P/E ratio of -0.37 and a beta of 1.22. The firm’s 50 day moving average is $2.70 and its 200 day moving average is $2.99.

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

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

Analysts Set New Price Targets

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