Key Points
- Director Amanda Williams purchased 5,857 Aclarion shares at an average price of $2.73, investing $15,989.61 and increasing her direct ownership by 29.28% to 25,857 shares.
- Aclarion reported a quarterly loss of $1.12 per share, missing estimates by $0.07, while revenue was approximately $30,000 and profitability metrics remained deeply negative.
- The stock opened at $2.77, with a market capitalization of about $7.98 million. Analysts have a consensus “Hold” rating and a $7.50 price target, while the company has authorized a $2.5 million share buyback.
Aclarion, Inc. (NASDAQ:ACON - Get Free Report) Director Amanda Williams bought 5,857 shares of the firm's stock in a transaction on Monday, August 17th. The stock was purchased at an average cost of $2.73 per share, with a total value of $15,989.61. Following the completion of the transaction, the director directly owned 25,857 shares of the company's stock, valued at approximately $70,589.61. The trade was a 29.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Aclarion Stock Up 6.5%
ACON opened at $2.77 on Thursday. The company has a market capitalization of $7.98 million, a price-to-earnings ratio of -0.37 and a beta of 1.21. The firm has a 50-day moving average price of $2.68 and a 200-day moving average price of $2.98. Aclarion, Inc. has a twelve month low of $1.95 and a twelve month high of $12.03.
Aclarion (NASDAQ:ACON - Get Free Report) 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). The company had revenue of $0.03 million for the quarter, compared to analysts' expectations of $0.03 million. Aclarion had a negative return on equity of 59.34% and a negative net margin of 10,948.81%. On average, sell-side analysts expect that Aclarion, Inc. will post -4.51 earnings per share for the current fiscal year.
Aclarion declared that its Board of Directors has approved a stock buyback program on Wednesday, April 22nd that allows the company to buyback $2.50 million in shares. This buyback authorization allows the company to reacquire up to 31% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on ACON shares. Ascendiant Capital Markets raised their price target on Aclarion from $7.00 to $7.50 and gave the company a "buy" rating in a research report on Friday, May 29th. Wall Street Zen raised Aclarion from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Finally, Weiss Ratings upgraded Aclarion from a "sell (e)" rating to a "sell (e+)" rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $7.50.
View Our Latest Research Report 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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