Gregory Gould Buys 10,000 Shares of Aclarion (NASDAQ:ACON) Stock

Aclarion, Inc. (NASDAQ:ACON) CFO Gregory Gould acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $2.45 per share, with a total value of $24,500.00. Following the acquisition, the chief financial officer owned 60,000 shares in the company, valued at $147,000. The trade was a 20.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Aclarion Price Performance

Shares of ACON opened at $2.77 on Thursday. The business has a 50-day moving average of $2.68 and a 200-day moving average of $2.98. Aclarion, Inc. has a 1 year low of $1.95 and a 1 year high of $12.03. The company has a market capitalization of $7.98 million, a price-to-earnings ratio of -0.37 and a beta of 1.21.

Aclarion (NASDAQ:ACON) last released its earnings results on Thursday, August 6th. The company reported ($1.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.07). Aclarion had a negative net margin of 10,948.81% and a negative return on equity of 59.34%. The firm had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.03 million. As a group, sell-side analysts anticipate that Aclarion, Inc. will post -4.51 EPS for the current year.

Aclarion declared that its Board of Directors has initiated a share repurchase plan on Wednesday, April 22nd that allows the company to repurchase $2.50 million in outstanding shares. This repurchase authorization allows the company to purchase up to 31% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

ACON has been the topic of several research reports. Weiss Ratings upgraded shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, August 5th. Ascendiant Capital Markets increased their target price on shares of Aclarion from $7.00 to $7.50 and gave the company a “buy” rating in a report on Friday, May 29th. Finally, Wall Street Zen upgraded shares of Aclarion from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average 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.