Insider Buying: Aclarion (NASDAQ:ACON) Director Acquires $50,059.14 in Stock

Aclarion, Inc. (NASDAQ:ACON) Director Ryan Bond purchased 21,122 shares of Aclarion stock in a transaction that occurred 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 in the company, valued at $180,409.14. The trade was 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 this link.

Aclarion Price Performance

Shares of Aclarion stock opened at $2.46 on Monday. The business’s 50 day simple moving average is $2.71 and its two-hundred day simple moving average is $3.00. The stock has a market capitalization of $7.08 million, a P/E ratio of -0.33 and a beta of 1.22. Aclarion, Inc. has a one year low of $1.95 and a one year high of $12.03.

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

Aclarion announced that its Board of Directors has authorized a stock buyback plan on Wednesday, April 22nd that permits the company to buyback $2.50 million in shares. This buyback authorization permits the company to buy up to 31% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have issued reports on ACON. Ascendiant Capital Markets boosted their price objective on shares of Aclarion from $7.00 to $7.50 and gave the company a “buy” rating in a research report on Friday, May 29th. Wall Street Zen raised Aclarion from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Weiss Ratings upgraded Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.