Aclarion (NASDAQ:ACON) Director Scott Breidbart Purchases 5,664 Shares

Aclarion, Inc. (NASDAQ:ACON) Director Scott Breidbart acquired 5,664 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average cost of $3.18 per share, with a total value of $18,011.52. Following the purchase, the director owned 5,664 shares of the company’s stock, valued at $18,011.52. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Aclarion Price Performance

Shares of ACON traded up $0.05 during mid-day trading on Tuesday, reaching $3.15. 81,112 shares of the company’s stock traded hands, compared to its average volume of 625,659. The stock has a market cap of $7.75 million, a P/E ratio of -0.19 and a beta of 1.18. The stock’s 50-day moving average is $3.28 and its two-hundred day moving average is $4.53. Aclarion, Inc. has a 12 month low of $2.34 and a 12 month high of $12.03.

Aclarion (NASDAQ:ACON) last issued its quarterly earnings results on Wednesday, March 18th. The company reported ($2.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.60) by $1.59. The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.02 million. Aclarion had a negative return on equity of 52.31% and a negative net margin of 9,517.11%. Research analysts predict that Aclarion, Inc. will post -4.37 earnings per share for the current year.

Aclarion declared that its board has approved a stock buyback program on Wednesday, April 22nd that authorizes the company to repurchase $2.50 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 31% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have commented on ACON. Wall Street Zen upgraded shares of Aclarion from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings downgraded shares of Aclarion from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday. One analyst has rated the stock with a Sell rating, According to MarketBeat, Aclarion currently has a consensus rating of “Sell”.

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.