Insider Buying: Aclarion (NASDAQ:ACON) Director Buys $18,011.52 in Stock

Aclarion, Inc. (NASDAQ:ACON) Director Scott Breidbart purchased 5,664 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average cost of $3.18 per share, with a total value of $18,011.52. Following the acquisition, the director owned 5,664 shares in the company, valued at $18,011.52. This trade represents a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Aclarion Price Performance

Shares of NASDAQ:ACON opened at $3.22 on Friday. Aclarion, Inc. has a 1 year low of $2.34 and a 1 year high of $12.03. The stock has a market capitalization of $7.92 million, a price-to-earnings ratio of -0.36 and a beta of 1.18. The company’s 50 day simple moving average is $3.30 and its 200 day simple moving average is $4.43.

Aclarion (NASDAQ:ACON) last released its earnings results on Wednesday, May 13th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1.55) by $0.21. The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.03 million. Aclarion had a negative return on equity of 61.10% and a negative net margin of 10,320.51%. As a group, analysts anticipate that Aclarion, Inc. will post -4.37 EPS for the current fiscal year.

Aclarion announced that its Board of Directors has authorized a stock repurchase program 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ACON. Wall Street Zen raised shares of Aclarion from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings cut shares of Aclarion from a “sell (e+)” rating to a “sell (e)” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Aclarion currently has an average rating of “Sell”.

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.