Aclarion (NASDAQ:ACON) Director Ryan Bond Purchases 21,122 Shares of Stock

Aclarion, Inc. (NASDAQ:ACON) Director Ryan Bond purchased 21,122 shares of the stock in a transaction dated Thursday, August 13th. The shares were bought at an average price of $2.37 per share, for a total transaction of $50,059.14. Following the completion of the acquisition, the director owned 76,122 shares in the company, valued at $180,409.14. This represents a 38.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Aclarion Trading Up 12.6%

NASDAQ ACON opened at $2.77 on Tuesday. Aclarion, Inc. has a 1-year low of $1.95 and a 1-year high of $12.03. The company has a market capitalization of $7.98 million, a PE ratio of -0.37 and a beta of 1.22. The firm’s fifty day simple moving average is $2.70 and its 200-day simple moving average is $2.99.

Aclarion (NASDAQ:ACON) last released its quarterly earnings data 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 net margin of 10,948.81% and a negative return on equity of 59.34%. The firm had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.03 million. As a group, analysts predict that Aclarion, Inc. will post -4.51 EPS for the current year.

Aclarion announced that its board has authorized a share buyback program on Wednesday, April 22nd that permits the company to buyback $2.50 million in shares. This buyback authorization permits the company to repurchase up to 31% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

ACON has been the subject of several recent research reports. Wall Street Zen raised Aclarion from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings raised shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, August 5th. Finally, Ascendiant Capital Markets lifted their target price 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. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.