Aclarion, Inc. (NASDAQ:ACON - Get Free Report) CEO Brent Ness purchased 5,234 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average price of $2.31 per share, for a total transaction of $12,090.54. Following the completion of the acquisition, the chief executive officer directly owned 111,534 shares in the company, valued at $257,643.54. The trade was a 4.92% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Aclarion Stock Up 12.6%
Shares of Aclarion stock opened at $2.77 on Tuesday. The stock's fifty day moving average is $2.70 and its two-hundred day moving average is $2.99. The company has a market capitalization of $7.98 million, a PE ratio of -0.37 and a beta of 1.22. Aclarion, Inc. has a 52 week low of $1.95 and a 52 week high of $12.03.
Aclarion (NASDAQ:ACON - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($1.12) EPS for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.07). The company had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.03 million. Aclarion had a negative return on equity of 59.34% and a negative net margin of 10,948.81%. As a group, research analysts anticipate that Aclarion, Inc. will post -4.51 earnings per share for the current year.
Aclarion declared that its Board of Directors has initiated a share buyback plan on Wednesday, April 22nd that authorizes the company to repurchase $2.50 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 31% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.
Analyst Upgrades and Downgrades
Several research firms recently commented on ACON. Weiss Ratings upgraded shares of Aclarion from a "sell (e)" rating to a "sell (e+)" rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of Aclarion from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. Finally, Ascendiant Capital Markets lifted their price target on shares of Aclarion from $7.00 to $7.50 and gave the stock a "buy" rating in a report on Friday, May 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $7.50.
Check Out Our Latest Stock Report on Aclarion
Aclarion Company Profile
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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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