Aclarion (NASDAQ:ACON) Issues Quarterly Earnings Results

Aclarion (NASDAQ:ACON) released its quarterly earnings data on Thursday. The company reported ($0.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.15) by $0.21, FiscalAI reports. Aclarion had a negative net margin of 10,948.81% and a negative return on equity of 59.34%. The firm had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.03 million.

Aclarion Price Performance

Shares of NASDAQ:ACON traded up $0.08 during trading on Friday, hitting $1.64. The company had a trading volume of 13,268 shares, compared to its average volume of 294,985. The stock has a market cap of $4.73 million, a price-to-earnings ratio of -0.22 and a beta of 1.21. The company has a fifty day simple moving average of $2.26 and a two-hundred day simple moving average of $2.82. Aclarion has a one year low of $1.54 and a one year high of $9.36.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aclarion in a report on Tuesday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.50.

Insider Buying and Selling at Aclarion

In related news, Director Ryan Bond purchased 21,122 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average price of $2.37 per share, for a total transaction of $50,059.14. Following the acquisition, the director owned 76,122 shares of the company’s stock, valued at approximately $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 link. Over the last 90 days, insiders purchased 51,863 shares of company stock worth $125,670. Insiders own 0.01% of the company’s stock.

About Aclarion

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.