Aclarion, Inc. (NASDAQ:ACON) Short Interest Up 92.2% in August

Aclarion, Inc. (NASDAQ:ACON) saw a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 61,992 shares, an increase of 92.2% from the July 30th total of 32,252 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily trading volume, of 50,515 shares, the short-interest ratio is currently 1.2 days.

Insider Activity

In related news, Director Ryan Bond acquired 21,122 shares of the stock in a transaction dated Thursday, August 13th. The stock was bought at an average cost of $2.37 per share, for a total transaction 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. The trade was a 38.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders bought 51,863 shares of company stock worth $125,670 in the last ninety days. 0.01% of the stock is owned by company insiders.

Aclarion Stock Performance

Shares of ACON stock traded down $0.12 during trading hours on Friday, hitting $2.40. 35,255 shares of the company were exchanged, compared to its average volume of 71,024. The company has a 50 day simple moving average of $2.60 and a two-hundred day simple moving average of $2.96. The firm has a market cap of $6.91 million, a P/E ratio of -0.32 and a beta of 1.21. Aclarion has a fifty-two week low of $1.95 and a fifty-two week high of $12.03.

Aclarion (NASDAQ:ACON) last released its earnings results on Thursday, August 6th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.07). The company had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.03 million. Aclarion had a negative net margin of 10,948.81% and a negative return on equity of 59.34%. As a group, sell-side analysts expect that Aclarion will post -4.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ACON has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Aclarion from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Ascendiant Capital Markets upped 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. Finally, 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.50.

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.