Short Interest in Aclarion, Inc. (NASDAQ:ACON) Increases By 92.2%

Aclarion, Inc. (NASDAQ:ACON) saw a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 61,992 shares, a growth of 92.2% from the July 30th total of 32,252 shares. Approximately 2.2% of the company’s shares are sold short. Based on an average trading volume of 50,515 shares, the short-interest ratio is currently 1.2 days.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ACON shares. Ascendiant Capital Markets increased their target price on Aclarion from $7.00 to $7.50 and gave the stock a “buy” rating in a research report on Friday, May 29th. Wall Street Zen upgraded shares of Aclarion from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Weiss Ratings upgraded 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.50.

Insider Buying and Selling at Aclarion

In other Aclarion news, Director Ryan Bond purchased 21,122 shares of Aclarion stock in a transaction on Thursday, August 13th. The shares were bought at an average price of $2.37 per share, with a total value of $50,059.14. Following the purchase, the director directly owned 76,122 shares in the company, valued at $180,409.14. This trade represents a 38.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders acquired 51,863 shares of company stock worth $125,670. Corporate insiders own 0.01% of the company’s stock.

Aclarion Trading Down 2.1%

ACON stock opened at $2.35 on Tuesday. The stock has a 50-day moving average price of $2.59 and a two-hundred day moving average price of $2.96. Aclarion has a 12-month low of $1.95 and a 12-month high of $12.03. The company has a market cap of $6.77 million, a PE ratio of -0.32 and a beta of 1.22.

Aclarion (NASDAQ:ACON) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $0.03 million. Aclarion had a negative return on equity of 59.34% and a negative net margin of 10,948.81%. Equities analysts forecast that Aclarion will post -4.51 EPS for the current fiscal year.

About Aclarion

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.