Brent Ness Acquires 6,289 Shares of Aclarion (NASDAQ:ACON) Stock

Aclarion, Inc. (NASDAQ:ACON) CEO Brent Ness bought 6,289 shares of the company’s stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $3.18 per share, with a total value of $19,999.02. Following the completion of the acquisition, the chief executive officer directly owned 6,300 shares in the company, valued at $20,034. This represents a 57,172.73% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Aclarion Trading Up 1.6%

NASDAQ:ACON opened at $3.15 on Wednesday. The firm has a 50-day moving average price of $3.28 and a two-hundred day moving average price of $4.50. Aclarion, Inc. has a twelve month low of $2.34 and a twelve month high of $12.03. The company has a market capitalization of $7.76 million, a P/E ratio of -0.19 and a beta of 1.18.

Aclarion (NASDAQ:ACON) last posted its earnings results on Wednesday, March 18th. The company reported ($2.01) earnings per share for the quarter, beating the consensus estimate of ($3.60) by $1.59. Aclarion had a negative net margin of 9,517.11% and a negative return on equity of 52.31%. The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.02 million. On average, equities research analysts predict that Aclarion, Inc. will post -4.37 earnings per share for the current year.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Aclarion from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings lowered Aclarion from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

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.