Aclarion (NASDAQ:ACON) Director David Neal Purchases 7,500 Shares

Aclarion, Inc. (NASDAQ:ACON) Director David Neal acquired 7,500 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was purchased at an average price of $2.40 per share, with a total value of $18,000.00. Following the completion of the acquisition, the director directly owned 30,002 shares in the company, valued at approximately $72,004.80. This represents a 33.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Aclarion Trading Up 12.6%

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

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

Aclarion declared that its board has approved a stock repurchase program on Wednesday, April 22nd that allows the company to buyback $2.50 million in outstanding shares. This buyback authorization allows the company to purchase up to 31% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ACON shares. Ascendiant Capital Markets upped their price objective on shares of Aclarion from $7.00 to $7.50 and gave the company a “buy” rating in a research note on Friday, May 29th. Weiss Ratings upgraded shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, August 5th. 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 research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Aclarion presently has a consensus 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.