Aclarion (NASDAQ:ACON) Announces Earnings Results

Aclarion (NASDAQ:ACON) announced its quarterly earnings results on Thursday. The company reported ($0.94) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.21, FiscalAI reports. The company 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%.

Aclarion Stock Down 10.3%

Shares of NASDAQ:ACON traded down $0.18 during trading on Thursday, reaching $1.56. 13,661 shares of the company’s stock traded hands, compared to its average volume of 296,306. Aclarion has a fifty-two week low of $1.54 and a fifty-two week high of $9.36. The company has a 50-day simple moving average of $2.27 and a 200-day simple moving average of $2.83. The firm has a market cap of $4.49 million, a PE ratio of -0.21 and a beta of 1.21.

Insiders Place Their Bets

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 price of $2.37 per share, for a total transaction of $50,059.14. Following the completion of the transaction, the director owned 76,122 shares of the company’s stock, valued at $180,409.14. This trade represents a 38.40% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders bought 51,863 shares of company stock valued at $125,670. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Aclarion in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Aclarion presently has a consensus rating of “Hold” and an average target price of $7.50.

About Aclarion

Aclarion, Inc is a medical technology company focused on improving the diagnosis and treatment of chronic low back pain. The company develops data-driven tools intended to help physicians identify the spinal discs most likely to be contributing to a patient’s pain and support more informed treatment decisions.

Its principal product is Nociscan, a cloud-based software platform that analyzes magnetic resonance spectroscopy data from the spine. Using proprietary algorithms and chemical biomarkers associated with disc degeneration, Nociscan is designed to provide information about disc health and help distinguish potentially painful discs from discs that may not be the primary source of symptoms.

Aclarion’s technology is intended for use by spine specialists, radiologists and other healthcare providers as an adjunct to conventional imaging and clinical evaluation.