Aclarion, Inc. (NASDAQ:ACON) Stock Short Interest Falls 35.6%

Aclarion, Inc. (NASDAQ:ACON) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 48,934 shares, a decline of 35.6% from the September 15th total of 76,007 shares. Currently, 1.7% of the company’s shares are sold short. Based on an average daily trading volume, of 62,470 shares, the short-interest ratio is presently 0.8 days.

Insider Buying and Selling at Aclarion

In other Aclarion news, Director Ryan Bond acquired 21,122 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average cost of $2.37 per share, for a total transaction of $50,059.14. Following the completion of the acquisition, the director directly owned 76,122 shares of the company’s stock, valued at approximately $180,409.14. This 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. Insiders have purchased 51,863 shares of company stock worth $125,670 over the last ninety days. Insiders own 0.01% of the company’s stock.

Aclarion Trading Up 0.7%

NASDAQ ACON opened at $1.95 on Friday. Aclarion has a 12 month low of $1.89 and a 12 month high of $9.36. The stock has a 50-day simple moving average of $2.44 and a 200 day simple moving average of $2.84. The company has a market capitalization of $5.63 million, a PE ratio of -0.26 and a beta of 1.20.

Aclarion (NASDAQ:ACON) last issued its earnings results on Thursday, August 6th. The company reported ($1.12) earnings per share (EPS) 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 company had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.03 million. As a group, sell-side analysts predict that Aclarion will post -4.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ACON has been the subject of a number of analyst reports. Weiss Ratings raised shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Aclarion from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Aclarion has an average rating of “Hold” and an average target price of $7.50.

Aclarion Company Profile

Aclarion, Inc (NASDAQ: ACON) is a healthcare technology company focused on improving the diagnosis and treatment planning of chronic low back pain. The company develops software designed to help physicians identify the spinal discs that may be contributing to a patient’s pain.

Its primary product, Nociscan, is a cloud-based platform that analyzes magnetic resonance spectroscopy data along with other imaging information. The system generates quantitative assessments, including Nociscores, intended to provide additional insight into disc health and support physicians in evaluating potential treatment options.

Aclarion’s technology is designed for use by spine specialists, radiologists, imaging centers and other healthcare providers.