Aclarion (NASDAQ:ACON) Shares Up 0.8% – Still a Buy?

Aclarion, Inc. (NASDAQ:ACON) shares were up 0.8% on Tuesday . The stock traded as high as $2.45 and last traded at $2.38. 38,453 shares traded hands during trading, a decline of 14% from the average session volume of 44,693 shares. The stock had previously closed at $2.36.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Aclarion from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Ascendiant Capital Markets raised their price target on shares of Aclarion from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Friday, May 29th. Finally, Weiss Ratings downgraded Aclarion from a “sell (e+)” rating to a “sell (e)” rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.50.

Aclarion Stock Up 0.8%

The company has a 50-day moving average price of $2.87 and a two-hundred day moving average price of $3.08. The stock has a market capitalization of $5.85 million, a P/E ratio of -0.26 and a beta of 1.21.

Aclarion (NASDAQ:ACON) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.55) by $0.21. The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.03 million. Aclarion had a negative net margin of 10,320.51% and a negative return on equity of 54.41%. On average, sell-side analysts expect that Aclarion, Inc. will post -4.51 earnings per share for the current year.

Aclarion declared that its board has authorized 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 repurchase up to 31% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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.