Aclarion, Inc. (NASDAQ:ACON) Sees Significant Growth in Short Interest

Aclarion, Inc. (NASDAQ:ACON) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 76,007 shares, a growth of 206.9% from the August 31st total of 24,767 shares. Currently, 2.6% of the shares of the company are sold short. Based on an average daily volume of 39,191 shares, the short-interest ratio is currently 1.9 days.

Insider Buying and Selling

In other Aclarion news, Director Ryan Bond purchased 21,122 shares of the stock in a transaction on Thursday, August 13th. The shares were bought at an average cost of $2.37 per share, with a total value of $50,059.14. Following the completion of the acquisition, the director owned 76,122 shares in the company, valued at $180,409.14. This trade represents a 38.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 51,863 shares of company stock valued at $125,670 over the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Aclarion Price Performance

ACON stock traded down $0.04 during mid-day trading on Friday, reaching $2.59. 29,885 shares of the company’s stock were exchanged, compared to its average volume of 47,916. Aclarion has a 12-month low of $1.95 and a 12-month high of $12.03. The stock’s 50 day moving average is $2.46 and its 200 day moving average is $2.94. The company has a market cap of $7.46 million, a price-to-earnings ratio of -0.35 and a beta of 1.24.

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 company had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.03 million. On average, research analysts forecast that Aclarion will post -4.51 earnings per share for the current fiscal year.

Aclarion Company Profile

Aclarion, Inc (NASDAQ: ACON) is a healthcare technology company focused on improving the diagnosis and treatment of chronic low back pain. The company develops tools intended to help physicians identify the spinal discs that may be contributing to a patient’s pain and support more informed treatment decisions.

Its principal product, Nociscan, is a cloud-based platform that analyzes data from magnetic resonance spectroscopy (MRS) and magnetic resonance imaging (MRI). By combining imaging information with proprietary algorithms and biochemical biomarkers, the platform is designed to provide physicians with additional objective information about disc health and potential pain generators.

Aclarion was formerly known as Nocimed and adopted the Aclarion name as it expanded its focus on data-driven spine care.