Key Points
- Director Scott Breidbart bought 5,664 shares of Aclarion stock at an average price of $3.18, a transaction worth about $18,012.
- The purchase comes as ACON shares traded up 1.6% to $3.15, leaving the company with a market cap of about $7.76 million.
- Aclarion recently announced a $2.5 million stock repurchase plan, while analysts currently maintain an average Sell rating on the stock.
Aclarion, Inc. (NASDAQ:ACON - Get Free Report) Director Scott Breidbart purchased 5,664 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average cost of $3.18 per share, for a total transaction of $18,011.52. Following the acquisition, the director owned 5,664 shares in the company, valued at approximately $18,011.52. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Aclarion Trading Up 1.6%
Shares of NASDAQ ACON opened at $3.15 on Wednesday. The company has a market cap of $7.76 million, a price-to-earnings ratio of -0.19 and a beta of 1.18. Aclarion, Inc. has a 12-month low of $2.34 and a 12-month high of $12.03. The stock's 50 day simple moving average is $3.28 and its 200 day simple moving average is $4.50.
Aclarion (NASDAQ:ACON - Get Free Report) last announced its quarterly earnings results on Wednesday, March 18th. The company reported ($2.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.60) by $1.59. The business had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.02 million. Aclarion had a negative return on equity of 52.31% and a negative net margin of 9,517.11%. As a group, equities analysts forecast that Aclarion, Inc. will post -4.37 earnings per share for the current fiscal year.
Aclarion declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 22nd that permits the company to buyback $2.50 million in outstanding shares. This buyback authorization permits the company to purchase up to 31% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.
Analysts Set New Price Targets
Several brokerages have recently issued reports on ACON. Wall Street Zen upgraded Aclarion from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. Weiss Ratings cut Aclarion from a "sell (e+)" rating to a "sell (e)" rating in a research report on Friday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Aclarion currently has an average rating of "Sell".
Check Out 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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