Insider Buying: Aclarion (NASDAQ:ACON) Director Purchases $15,989.61 in Stock

Aclarion, Inc. (NASDAQ:ACON) Director Amanda Williams acquired 5,857 shares of Aclarion stock in a transaction on Monday, August 17th. The shares were purchased at an average cost of $2.73 per share, with a total value of $15,989.61. Following the completion of the acquisition, the director owned 25,857 shares of the company’s stock, valued at $70,589.61. This trade represents a 29.28% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Aclarion Price Performance

Shares of ACON opened at $2.60 on Wednesday. The firm has a market cap of $7.49 million, a PE ratio of -0.35 and a beta of 1.22. The stock’s fifty day moving average price is $2.68 and its two-hundred day moving average price is $2.98. Aclarion, Inc. has a 1 year low of $1.95 and a 1 year high of $12.03.

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 firm had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.03 million. Aclarion had a negative net margin of 10,948.81% and a negative return on equity of 59.34%. Sell-side analysts anticipate that Aclarion, Inc. will post -4.51 earnings per share for the current fiscal year.

Aclarion announced that its board has approved a stock buyback plan on Wednesday, April 22nd that allows the company to buyback $2.50 million in outstanding shares. This buyback authorization allows the company to repurchase up to 31% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ACON shares. Wall Street Zen upgraded shares of Aclarion from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Ascendiant Capital Markets upped their price target on shares of 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 shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus 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.