Key Points
- Aclarion CFO Gregory Gould purchased 10,000 shares at an average price of $2.45, increasing his direct stake by 20% to 60,000 shares.
- Aclarion shares were down 6.1%, opening at $2.60, while the company reported a quarterly loss of $1.12 per share, missing estimates by $0.07.
- The company authorized a $2.5 million share buyback, potentially covering up to 31% of outstanding shares. Analysts have a consensus “Hold” rating and a $7.50 target price.
Aclarion, Inc. (NASDAQ:ACON - Get Free Report) CFO Gregory Gould bought 10,000 shares of the firm's stock in a transaction on Friday, August 14th. The shares were purchased at an average cost of $2.45 per share, with a total value of $24,500.00. Following the transaction, the chief financial officer directly owned 60,000 shares in the company, valued at approximately $147,000. This trade represents a 20.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Aclarion Stock Down 6.1%
Shares of NASDAQ ACON opened at $2.60 on Wednesday. The firm has a fifty day simple moving average of $2.68 and a 200 day simple moving average of $2.98. Aclarion, Inc. has a twelve month low of $1.95 and a twelve month high of $12.03. The company has a market capitalization of $7.49 million, a PE ratio of -0.35 and a beta of 1.22.
Aclarion (NASDAQ:ACON - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($0.07). The business 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, equities analysts expect that Aclarion, Inc. will post -4.51 earnings per share for the current fiscal year.
Aclarion declared that its board has initiated a share buyback plan on Wednesday, April 22nd that authorizes the company to buyback $2.50 million in outstanding shares. This buyback authorization authorizes the company to buy up to 31% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on ACON shares. Weiss Ratings upgraded Aclarion from a "sell (e)" rating to a "sell (e+)" rating in a report 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 raised their target price on Aclarion from $7.00 to $7.50 and gave the company a "buy" rating in a research 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 company. According to MarketBeat.com, Aclarion currently has an average rating of "Hold" and a consensus target price of $7.50.
Check Out Our Latest Analysis on ACON
Aclarion Company Profile
(
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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