Short Interest in Aclarion, Inc. (NASDAQ:ACON) Declines By 60.0%

Aclarion, Inc. (NASDAQ:ACON) saw a significant drop in short interest in August. As of August 31st, there was short interest totaling 24,767 shares, a drop of 60.0% from the August 15th total of 61,992 shares. Based on an average daily trading volume, of 83,475 shares, the short-interest ratio is presently 0.3 days. Approximately 0.9% of the shares of the stock are short sold.

Aclarion Trading Down 0.4%

Shares of ACON stock traded down $0.01 during trading hours on Monday, hitting $2.59. The company’s stock had a trading volume of 2,629 shares, compared to its average volume of 353,861. The business has a fifty day moving average of $2.50 and a 200-day moving average of $2.95. The stock has a market cap of $7.46 million, a price-to-earnings ratio of -0.35 and a beta of 1.24. Aclarion has a twelve month low of $1.95 and a twelve month high of $12.03.

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

Analyst Ratings Changes

Several brokerages recently issued reports on ACON. Weiss Ratings raised Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded Aclarion from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Ascendiant Capital Markets lifted their price target on Aclarion from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.50.

Insider Activity

In related news, Director Ryan Bond purchased 21,122 shares of Aclarion 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 transaction, the director owned 76,122 shares in the company, valued at approximately $180,409.14. The trade was a 38.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have purchased 51,863 shares of company stock worth $125,670. 0.01% of the stock is currently owned by company insiders.

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.