Aclarion (NASDAQ:ACON) Posts Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Aclarion (NASDAQ:ACON) announced its quarterly earnings data on Thursday. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($0.07), FiscalAI reports. The business had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.03 million. Aclarion had a negative return on equity of 54.41% and a negative net margin of 10,320.51%.

Aclarion Price Performance

Shares of Aclarion stock traded down $0.01 during trading on Thursday, hitting $2.35. 44,086 shares of the company’s stock traded hands, compared to its average volume of 43,433. The company has a market cap of $5.79 million, a PE ratio of -0.26 and a beta of 1.21. The firm’s fifty day moving average price is $2.84 and its 200 day moving average price is $3.06. Aclarion has a twelve month low of $1.95 and a twelve month high of $12.03.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Weiss Ratings raised shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday. Ascendiant Capital Markets lifted their target price on shares of Aclarion from $7.00 to $7.50 and gave the stock a “buy” rating in a research report on Friday, May 29th. Finally, Wall Street Zen upgraded shares of Aclarion from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.50.

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

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.