Aclarion, Inc. (NASDAQ:ACON) Short Interest Update

Aclarion, Inc. (NASDAQ:ACON) was the recipient of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 54,618 shares, a decrease of 56.7% from the June 15th total of 126,156 shares. Based on an average daily trading volume, of 104,936 shares, the short-interest ratio is presently 0.5 days. Approximately 2.2% of the shares of the company are short sold.

Aclarion Trading Down 5.3%

Aclarion stock opened at $2.69 on Tuesday. Aclarion has a 1-year low of $2.34 and a 1-year high of $12.03. The firm has a market capitalization of $6.62 million, a price-to-earnings ratio of -0.30 and a beta of 1.21. The firm has a 50 day simple moving average of $3.13 and a 200 day simple moving average of $3.39.

Aclarion (NASDAQ:ACON) last issued its earnings results on Wednesday, May 13th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.55) by $0.21. The business had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.03 million. Aclarion had a negative net margin of 10,320.51% and a negative return on equity of 54.41%. On average, equities research analysts forecast that Aclarion will post -4.51 EPS for the current year.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ACON shares. Ascendiant Capital Markets increased their price target on Aclarion from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Friday, May 29th. Wall Street Zen upgraded Aclarion from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Weiss Ratings raised shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.