Aclarion, Inc. (NASDAQ:ACON) Shares Shorted: Short Interest Down 49.7% in October

Aclarion, Inc. (NASDAQ:ACON) was the target of a significant decline in short interest in 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. Based on an average trading volume of 23,545 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.9% of the company’s stock are sold short.

Insider Activity at Aclarion

In other Aclarion news, Director Ryan Bond purchased 21,122 shares of Aclarion stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average price of $2.37 per share, with a total value of $50,059.14. Following the completion of the acquisition, the director owned 76,122 shares of the company’s stock, valued at approximately $180,409.14. This trade represents a 38.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 51,863 shares of company stock valued at $125,670 in the last 90 days. Insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

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

Aclarion Stock Down 1.0%

Shares of ACON traded down $0.02 during mid-day trading on Friday, hitting $1.95. The stock had a trading volume of 18,130 shares, compared to its average volume of 19,220. The company has a market cap of $5.62 million, a PE ratio of -0.26 and a beta of 1.20. The company’s fifty day simple moving average is $2.33 and its two-hundred day simple moving average is $2.86. Aclarion has a fifty-two week low of $1.85 and a fifty-two week high of $9.36.

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