Aclarion (NASDAQ:ACON) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

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

Aclarion Stock Down 0.4%

Shares of ACON traded down $0.01 during mid-day trading on Thursday, hitting $2.35. 44,086 shares of the company’s stock traded hands, compared to its average volume of 43,433. The business’s 50-day moving average price is $2.84 and its 200-day moving average price is $3.06. Aclarion has a 1 year low of $1.95 and a 1 year high of $12.03. The firm has a market capitalization of $5.79 million, a P/E ratio of -0.26 and a beta of 1.21.

Aclarion announced that its Board of Directors has authorized a share buyback program on Wednesday, April 22nd that allows the company to repurchase $2.50 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 31% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wall Street Zen upgraded Aclarion from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings upgraded Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday. Finally, Ascendiant Capital Markets upped their target price on Aclarion from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Friday, May 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.