Aclarion, Inc. (NASDAQ:ACON) Stock Short Interest Drops 49.7%

Aclarion, Inc. (NASDAQ:ACON) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 24,624 shares, a decline of 49.7% from the September 30th total of 48,934 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average daily volume of 23,545 shares, the short-interest ratio is currently 1.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.50.

Insider Buying and Selling

In other Aclarion news, Director Ryan Bond bought 21,122 shares of Aclarion stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average cost of $2.37 per share, for a total transaction of $50,059.14. Following the completion of the transaction, the director owned 76,122 shares of the company’s stock, valued at $180,409.14. This represents a 38.40% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired 51,863 shares of company stock valued at $125,670 in the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Aclarion Price Performance

ACON stock traded down $0.02 during midday trading on Friday, reaching $1.95. 18,130 shares of the company’s stock traded hands, compared to its average volume of 19,220. Aclarion has a fifty-two week low of $1.85 and a fifty-two week high of $9.36. The business has a 50-day moving average price of $2.33 and a two-hundred day moving average price of $2.86. The company has a market capitalization of $5.62 million, a P/E ratio of -0.26 and a beta of 1.20.

Aclarion (NASDAQ:ACON) last released its quarterly earnings data on Thursday, August 6th. The company reported ($1.12) earnings per share (EPS) 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 analyst estimates 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, research analysts forecast that Aclarion will post -4.51 earnings per share for the current fiscal year.

Aclarion Company Profile

Aclarion, Inc is a medical technology company focused on improving the diagnosis and treatment of chronic low back pain. The company develops data-driven tools intended to help physicians identify the spinal discs most likely to be contributing to a patient’s pain and support more informed treatment decisions.

Its principal product is Nociscan, a cloud-based software platform that analyzes magnetic resonance spectroscopy data from the spine. Using proprietary algorithms and chemical biomarkers associated with disc degeneration, Nociscan is designed to provide information about disc health and help distinguish potentially painful discs from discs that may not be the primary source of symptoms.

Aclarion’s technology is intended for use by spine specialists, radiologists and other healthcare providers as an adjunct to conventional imaging and clinical evaluation.