Aclarion, Inc. (NASDAQ:ACON) Short Interest Up 92.2% in August

Aclarion, Inc. (NASDAQ:ACON) was the target of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 61,992 shares, an increase of 92.2% from the July 30th total of 32,252 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 50,515 shares, the short-interest ratio is presently 1.2 days.

Insider Transactions at Aclarion

In related news, Director Ryan Bond acquired 21,122 shares of the stock in a transaction on Thursday, August 13th. The shares were purchased at an average price of $2.37 per share, for a total transaction of $50,059.14. Following the purchase, the director directly owned 76,122 shares in the company, valued at approximately $180,409.14. The trade was a 38.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders purchased a total of 51,863 shares of company stock worth $125,670 over the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Aclarion Price Performance

NASDAQ ACON traded down $0.12 during trading hours on Friday, reaching $2.40. The company’s stock had a trading volume of 35,255 shares, compared to its average volume of 71,024. The firm has a fifty day simple moving average of $2.60 and a 200-day simple moving average of $2.96. Aclarion has a 52 week low of $1.95 and a 52 week high of $12.03. The stock has a market cap of $6.91 million, a P/E ratio of -0.32 and a beta of 1.21.

Aclarion (NASDAQ:ACON) last posted 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). The business had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.03 million. Aclarion had a negative return on equity of 59.34% and a negative net margin of 10,948.81%. On average, research analysts expect that Aclarion will post -4.51 earnings per share for the current year.

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.