Aclarion (NASDAQ:ACON) CEO Brent Ness Purchases 5,234 Shares

Aclarion, Inc. (NASDAQ:ACON) CEO Brent Ness purchased 5,234 shares of Aclarion 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 transaction, the chief executive officer directly owned 111,534 shares in the company, valued at $257,643.54. This represents a 4.92% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Aclarion Price Performance

Shares of ACON opened at $2.46 on Monday. The firm has a 50 day simple moving average of $2.71 and a two-hundred day simple moving average of $3.00. Aclarion, Inc. has a one year low of $1.95 and a one year high of $12.03. The company has a market cap of $7.08 million, a P/E ratio of -0.33 and a beta of 1.22.

Aclarion (NASDAQ:ACON) last issued its earnings results on Thursday, August 6th. The company reported ($1.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.07). Aclarion had a negative net margin of 10,948.81% and a negative return on equity of 59.34%. The business had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.03 million. On average, analysts expect that Aclarion, Inc. will post -4.51 earnings per share for the current fiscal year.

Aclarion announced that its board has authorized a stock repurchase plan on Wednesday, April 22nd that allows the company to repurchase $2.50 million in outstanding shares. This repurchase authorization allows the company to purchase up to 31% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have commented on ACON shares. Wall Street Zen raised Aclarion from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings upgraded shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, August 5th. Finally, Ascendiant Capital Markets lifted their price target on shares of Aclarion from $7.00 to $7.50 and gave the company a “buy” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.50.

Aclarion Company Profile

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.