Aclarion, Inc. (NASDAQ:ACON) Short Interest Update

Aclarion, Inc. (NASDAQ:ACON) was the target of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 54,618 shares, a decline of 56.7% from the June 15th total of 126,156 shares. Based on an average daily volume of 104,936 shares, the days-to-cover ratio is presently 0.5 days. Approximately 2.2% of the company’s stock are short sold.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Ascendiant Capital Markets increased their price objective 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. Wall Street Zen upgraded Aclarion from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Weiss Ratings raised Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. 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.com, Aclarion presently has an average rating of “Hold” and a consensus price target of $7.50.

Aclarion Stock Performance

ACON opened at $2.69 on Tuesday. Aclarion has a fifty-two week low of $2.34 and a fifty-two week high of $12.03. The firm has a 50-day moving average of $3.13 and a 200 day moving average of $3.39. The firm has a market cap of $6.62 million, a P/E ratio of -0.30 and a beta of 1.21.

Aclarion (NASDAQ:ACON) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.55) by $0.21. The business had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.03 million. Aclarion had a negative net margin of 10,320.51% and a negative return on equity of 54.41%. Equities research analysts predict that Aclarion will post -4.51 earnings per share for the current fiscal year.

Aclarion announced that its Board of Directors has initiated a stock buyback program on Wednesday, April 22nd that authorizes the company to buyback $2.50 million in shares. This buyback authorization authorizes the company to buy up to 31% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is 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.