David Neal Buys 7,500 Shares of Aclarion (NASDAQ:ACON) Stock

Aclarion, Inc. (NASDAQ:ACON) Director David Neal acquired 7,500 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were bought at an average cost of $2.40 per share, for a total transaction of $18,000.00. Following the completion of the acquisition, the director owned 30,002 shares of the company’s stock, valued at approximately $72,004.80. This represents a 33.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Aclarion Price Performance

Shares of NASDAQ ACON opened at $2.46 on Monday. The firm has a market cap of $7.08 million, a price-to-earnings ratio of -0.33 and a beta of 1.22. The company’s 50-day simple moving average is $2.71 and its 200-day simple moving average is $3.00. Aclarion, Inc. has a 52-week low of $1.95 and a 52-week high of $12.03.

Aclarion (NASDAQ:ACON) last released its quarterly earnings results on Thursday, August 6th. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate 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 return on equity of 59.34% and a negative net margin of 10,948.81%. Equities research analysts anticipate that Aclarion, Inc. will post -4.51 EPS for the current fiscal year.

Aclarion announced that its board has approved a stock buyback program on Wednesday, April 22nd that permits the company to buyback $2.50 million in shares. This buyback authorization permits the company to repurchase up to 31% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

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