Aclarion (NASDAQ:ACON) CFO Gregory Gould Purchases 10,000 Shares of Stock

Aclarion, Inc. (NASDAQ:ACON) CFO Gregory Gould purchased 10,000 shares of the business’s stock in a transaction on Friday, August 14th. The stock was bought at an average cost of $2.45 per share, for a total transaction of $24,500.00. Following the purchase, the chief financial officer owned 60,000 shares of the company’s stock, valued at approximately $147,000. This represents a 20.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Aclarion Trading Down 6.1%

ACON stock opened at $2.60 on Wednesday. The stock has a market cap of $7.49 million, a PE ratio of -0.35 and a beta of 1.22. The stock has a 50-day moving average price of $2.68 and a two-hundred day moving average price of $2.98. Aclarion, Inc. has a 1 year low of $1.95 and a 1 year high of $12.03.

Aclarion (NASDAQ:ACON) last announced its earnings results 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 firm had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.03 million. Aclarion had a negative net margin of 10,948.81% and a negative return on equity of 59.34%. On average, analysts forecast that Aclarion, Inc. will post -4.51 earnings per share for the current fiscal year.

Aclarion announced that its Board of Directors has initiated 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 repurchase up to 31% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ACON. Ascendiant Capital Markets boosted their target price on shares of Aclarion from $7.00 to $7.50 and gave the stock a “buy” rating in a report on Friday, May 29th. Wall Street Zen upgraded Aclarion from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Weiss Ratings upgraded shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research note 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.