Ryan Bond Buys 21,122 Shares of Aclarion (NASDAQ:ACON) Stock

Aclarion, Inc. (NASDAQ:ACON) Director Ryan Bond purchased 21,122 shares of the stock in a transaction dated Thursday, August 13th. The shares were acquired at an average cost of $2.37 per share, for a total transaction of $50,059.14. Following the completion of the acquisition, the director owned 76,122 shares of the company’s stock, valued at approximately $180,409.14. This represents a 38.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Aclarion Stock Performance

NASDAQ ACON opened at $2.60 on Wednesday. Aclarion, Inc. has a one year low of $1.95 and a one year high of $12.03. The stock has a 50-day moving average of $2.68 and a 200 day moving average of $2.98. The company has a market capitalization of $7.49 million, a price-to-earnings ratio of -0.35 and a beta of 1.22.

Aclarion (NASDAQ:ACON) last issued 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 business had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.03 million. Aclarion had a negative return on equity of 59.34% and a negative net margin of 10,948.81%. On average, equities analysts predict that Aclarion, Inc. will post -4.51 earnings per share for the current fiscal year.

Aclarion declared that its board has authorized a stock repurchase plan on Wednesday, April 22nd that authorizes the company to buyback $2.50 million in shares. This buyback authorization authorizes the company to repurchase up to 31% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

Aclarion Company Profile

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.