Aclarion, Inc. (NASDAQ:ACON) Shares Shorted: Short Interest Up 206.9% in September

Aclarion, Inc. (NASDAQ:ACON) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 76,007 shares, an increase of 206.9% from the August 31st total of 24,767 shares. Based on an average trading volume of 39,191 shares, the days-to-cover ratio is presently 1.9 days. Currently, 2.6% of the shares of the stock are short sold.

Insider Activity

In other news, Director Ryan Bond bought 21,122 shares of the stock in a transaction dated Thursday, August 13th. The stock was purchased at an average cost of $2.37 per share, for a total transaction of $50,059.14. Following the transaction, the director owned 76,122 shares of the company’s stock, valued at $180,409.14. The trade was a 38.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders purchased 51,863 shares of company stock worth $125,670. 0.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Aclarion Stock Down 1.5%

ACON traded down $0.04 during trading hours on Friday, reaching $2.59. 29,885 shares of the company’s stock traded hands, compared to its average volume of 47,916. The firm has a market capitalization of $7.46 million, a PE ratio of -0.35 and a beta of 1.24. Aclarion has a 52-week low of $1.95 and a 52-week high of $12.03. The firm has a 50-day moving average price of $2.46 and a 200 day moving average price of $2.94.

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

Aclarion Company Profile

Aclarion, Inc (NASDAQ: ACON) is a healthcare technology company focused on improving the diagnosis and treatment of chronic low back pain. The company develops tools intended to help physicians identify the spinal discs that may be contributing to a patient’s pain and support more informed treatment decisions.

Its principal product, Nociscan, is a cloud-based platform that analyzes data from magnetic resonance spectroscopy (MRS) and magnetic resonance imaging (MRI). By combining imaging information with proprietary algorithms and biochemical biomarkers, the platform is designed to provide physicians with additional objective information about disc health and potential pain generators.

Aclarion was formerly known as Nocimed and adopted the Aclarion name as it expanded its focus on data-driven spine care.