Aclarion, Inc. (NASDAQ:ACON) Stock Short Interest Drops 49.7%

Aclarion, Inc. (NASDAQ:ACON) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 24,624 shares, a decline of 49.7% from the September 30th total of 48,934 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average trading volume of 23,545 shares, the short-interest ratio is currently 1.0 days.

Aclarion Stock Performance

Shares of NASDAQ:ACON traded down $0.02 during trading on Monday, reaching $1.93. 1,385 shares of the stock traded hands, compared to its average volume of 300,248. The stock has a 50-day moving average of $2.33 and a two-hundred day moving average of $2.86. Aclarion has a 52-week low of $1.85 and a 52-week high of $9.36. The stock has a market cap of $5.56 million, a P/E ratio of -0.26 and a beta of 1.21.

Aclarion (NASDAQ:ACON) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($0.07). The business had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.03 million. Aclarion had a negative return on equity of 59.34% and a negative net margin of 10,948.81%. Sell-side analysts expect that Aclarion will post -4.51 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Ryan Bond bought 21,122 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was acquired at an average cost of $2.37 per share, with a total value of $50,059.14. Following the completion of the transaction, the director directly owned 76,122 shares of the company’s stock, valued at $180,409.14. This represents a 38.40% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired 51,863 shares of company stock worth $125,670 over the last three months. 0.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.50.

Aclarion Company Profile

Aclarion, Inc is a medical technology company focused on improving the diagnosis and treatment of chronic low back pain. The company develops data-driven tools intended to help physicians identify the spinal discs most likely to be contributing to a patient’s pain and support more informed treatment decisions.

Its principal product is Nociscan, a cloud-based software platform that analyzes magnetic resonance spectroscopy data from the spine. Using proprietary algorithms and chemical biomarkers associated with disc degeneration, Nociscan is designed to provide information about disc health and help distinguish potentially painful discs from discs that may not be the primary source of symptoms.

Aclarion’s technology is intended for use by spine specialists, radiologists and other healthcare providers as an adjunct to conventional imaging and clinical evaluation.