Aclarion (NASDAQ:ACON) CEO Brent Ness Purchases 5,234 Shares

Aclarion, Inc. (NASDAQ:ACON) CEO Brent Ness bought 5,234 shares of the stock in a transaction dated Thursday, August 13th. The stock was purchased at an average price of $2.31 per share, with a total value of $12,090.54. Following the purchase, the chief executive officer owned 111,534 shares in the company, valued at $257,643.54. This trade represents a 4.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Aclarion Price Performance

Shares of NASDAQ ACON opened at $2.77 on Tuesday. Aclarion, Inc. has a 1 year low of $1.95 and a 1 year high of $12.03. The stock has a market cap of $7.98 million, a P/E ratio of -0.37 and a beta of 1.22. The firm has a 50-day moving average of $2.70 and a 200 day moving average of $2.99.

Aclarion (NASDAQ:ACON) last released its earnings results on Thursday, August 6th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.07). The company 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%. Research analysts expect that Aclarion, Inc. will post -4.51 earnings per share for the current fiscal year.

Aclarion announced that its Board of Directors has initiated a share repurchase plan on Wednesday, April 22nd that authorizes the company to buyback $2.50 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 31% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

ACON has been the topic of several recent research reports. Weiss Ratings upgraded shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of Aclarion from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Ascendiant Capital Markets lifted their target price 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. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Aclarion presently has a consensus 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.