Key Points
- CEO Brent Ness bought 6,289 shares of Aclarion stock at $3.18 each, a transaction worth about $20,000, and now owns 6,300 shares total.
- Aclarion shares slipped 2.5% to open at $3.10, and the stock remains well below its 200-day moving average of $4.53.
- The company recently authorized a $2.5 million share repurchase program, which could allow it to buy back up to 31% of its shares through open-market purchases.
Aclarion, Inc. (NASDAQ:ACON - Get Free Report) CEO Brent Ness acquired 6,289 shares of the company's stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $3.18 per share, with a total value of $19,999.02. Following the purchase, the chief executive officer owned 6,300 shares of the company's stock, valued at approximately $20,034. This trade represents a 57,172.73% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.
Aclarion Stock Down 2.5%
NASDAQ ACON opened at $3.10 on Tuesday. The firm has a market cap of $7.63 million, a price-to-earnings ratio of -0.18 and a beta of 1.18. The business has a 50-day moving average price of $3.28 and a 200-day moving average price of $4.53. Aclarion, Inc. has a twelve month low of $2.34 and a twelve month high of $12.03.
Aclarion (NASDAQ:ACON - Get Free Report) last released its quarterly earnings data on Wednesday, March 18th. The company reported ($2.01) earnings per share for the quarter, topping analysts' consensus estimates of ($3.60) by $1.59. The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.02 million. Aclarion had a negative return on equity of 52.31% and a negative net margin of 9,517.11%. Research analysts expect that Aclarion, Inc. will post -4.37 EPS for the current fiscal year.
Aclarion declared that its board has authorized a share repurchase program on Wednesday, April 22nd that allows the company to repurchase $2.50 million in shares. This repurchase authorization allows the company to reacquire up to 31% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the company. Weiss Ratings lowered Aclarion from a "sell (e+)" rating to a "sell (e)" rating in a research note on Friday. Wall Street Zen raised Aclarion from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of "Sell".
View Our Latest Stock Analysis on ACON
About Aclarion
(
Get Free Report)
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.
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