Aclarion (NASDAQ:ACON) Issues Earnings Results

Aclarion (NASDAQ:ACON) posted its earnings results on Wednesday. The company reported ($1.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.55) by $0.21, Zacks reports. Aclarion had a negative return on equity of 52.31% and a negative net margin of 9,517.11%.

Aclarion Trading Up 4.1%

Shares of NASDAQ ACON traded up $0.13 during midday trading on Wednesday, hitting $3.28. 50,814 shares of the company’s stock were exchanged, compared to its average volume of 619,341. Aclarion has a 12-month low of $2.34 and a 12-month high of $12.03. The company has a market cap of $8.08 million, a price-to-earnings ratio of -0.19 and a beta of 1.18. The business’s fifty day moving average price is $3.28 and its two-hundred day moving average price is $4.50.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ACON. Weiss Ratings lowered Aclarion from a “sell (e+)” rating to a “sell (e)” rating in a report on Friday. Wall Street Zen raised Aclarion from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

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.

About Aclarion

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.