Aclarion (NASDAQ:ACON) Issues Earnings Results

Aclarion (NASDAQ:ACON) announced its quarterly earnings data on Thursday. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.07), FiscalAI reports. Aclarion had a negative net margin of 10,320.51% and a negative return on equity of 54.41%. The firm had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.03 million.

Aclarion Price Performance

Aclarion stock traded down $0.01 during mid-day trading on Thursday, reaching $2.35. The stock had a trading volume of 44,086 shares, compared to its average volume of 43,433. The company has a market capitalization of $5.79 million, a price-to-earnings ratio of -0.26 and a beta of 1.21. The company has a 50-day moving average price of $2.84 and a two-hundred day moving average price of $3.06. Aclarion has a one year low of $1.95 and a one year high of $12.03.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ACON shares. Ascendiant Capital Markets upped their target price 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. Weiss Ratings raised shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday. Finally, Wall Street Zen raised shares of Aclarion from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.50.

Aclarion declared that its board has initiated a stock 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.