Gregory Gould Buys 10,000 Shares of Aclarion (NASDAQ:ACON) Stock

Aclarion, Inc. (NASDAQ:ACON) CFO Gregory Gould acquired 10,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $2.45 per share, with a total value of $24,500.00. Following the purchase, the chief financial officer owned 60,000 shares of the company’s stock, valued at approximately $147,000. This trade represents a 20.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Aclarion Stock Performance

Shares of Aclarion stock opened at $2.77 on Tuesday. Aclarion, Inc. has a 52-week low of $1.95 and a 52-week high of $12.03. The company’s 50 day moving average price is $2.70 and its 200-day moving average price is $2.99. The stock has a market capitalization of $7.98 million, a price-to-earnings ratio of -0.37 and a beta of 1.22.

Aclarion (NASDAQ:ACON) last posted 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 firm had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.03 million. Aclarion had a negative net margin of 10,948.81% and a negative return on equity of 59.34%. As a group, equities research analysts forecast that Aclarion, Inc. will post -4.51 earnings per share for the current fiscal year.

Aclarion declared that its Board of Directors has approved a stock repurchase plan on Wednesday, April 22nd that permits the company to buyback $2.50 million in shares. This buyback authorization permits the company to purchase up to 31% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

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