Aclarion (NASDAQ:ACON) CEO Purchases $12,090.54 in Stock

Aclarion, Inc. (NASDAQ:ACON) CEO Brent Ness purchased 5,234 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were purchased at an average cost of $2.31 per share, for a total transaction of $12,090.54. Following the completion of the purchase, the chief executive officer directly owned 111,534 shares of the company’s stock, valued at approximately $257,643.54. This represents a 4.92% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Aclarion Price Performance

NASDAQ:ACON opened at $2.46 on Monday. 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 PE ratio of -0.33 and a beta of 1.22. The firm’s 50 day simple moving average is $2.71 and its 200 day simple moving average is $3.00.

Aclarion (NASDAQ:ACON) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.07). The business had revenue of $0.03 million for 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%. Equities research analysts expect that Aclarion, Inc. will post -4.51 EPS for the current year.

Aclarion announced that its Board of Directors has approved a stock buyback plan on Wednesday, April 22nd that authorizes the company to repurchase $2.50 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 31% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

ACON has been the subject of a number of analyst reports. Weiss Ratings raised shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, August 5th. Ascendiant Capital Markets boosted their price target on Aclarion from $7.00 to $7.50 and gave the company a “buy” rating in a research note on Friday, May 29th. Finally, Wall Street Zen upgraded shares of Aclarion from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Aclarion presently has an average rating of “Hold” and an average 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.