Insider Buying: Aclarion (NASDAQ:ACON) Director Purchases 21,122 Shares of Stock

Aclarion, Inc. (NASDAQ:ACON) Director Ryan Bond purchased 21,122 shares of Aclarion stock in a transaction dated Thursday, August 13th. The shares were purchased 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 of the company’s stock, valued at approximately $180,409.14. The trade was a 38.40% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Aclarion Price Performance

Shares of Aclarion stock opened at $2.46 on Monday. The stock has a market cap of $7.08 million, a price-to-earnings ratio of -0.33 and a beta of 1.22. Aclarion, Inc. has a twelve month low of $1.95 and a twelve month high of $12.03. The company’s fifty day moving average is $2.71 and its 200 day moving average is $3.00.

Aclarion (NASDAQ:ACON) last released its earnings results on Thursday, August 6th. The company reported ($1.12) earnings per share 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, equities analysts anticipate that Aclarion, Inc. will post -4.51 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Ascendiant Capital Markets boosted their price objective on Aclarion from $7.00 to $7.50 and gave the stock a “buy” rating in a research report on Friday, May 29th. Weiss Ratings upgraded shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen upgraded Aclarion from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.50.

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.