Aclarion (NASDAQ:ACON) Announces Quarterly Earnings Results

Aclarion (NASDAQ:ACON) issued its earnings results on Wednesday. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.55) by $0.21, Zacks reports. Aclarion had a negative return on equity of 52.31% and a negative net margin of 9,517.11%.

Aclarion Trading Up 4.1%

ACON traded up $0.13 during trading on Wednesday, reaching $3.28. The stock had a trading volume of 50,814 shares, compared to its average volume of 619,341. The stock’s 50 day moving average is $3.28 and its two-hundred day moving average is $4.50. The company has a market capitalization of $8.08 million, a price-to-earnings ratio of -0.19 and a beta of 1.18. Aclarion has a one year low of $2.34 and a one year high of $12.03.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ACON. Weiss Ratings lowered Aclarion from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday. Wall Street Zen raised Aclarion from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Aclarion currently has an average rating of “Sell”.

Aclarion declared that its board has initiated a share repurchase program on Wednesday, April 22nd that permits the company to repurchase $2.50 million in shares. This repurchase authorization permits the company to reacquire up to 31% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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.