Aclarion, Inc. (NASDAQ:ACON) Short Interest Update

Aclarion, Inc. (NASDAQ:ACON) saw a significant increase in short interest in August. As of August 14th, there was short interest totaling 61,992 shares, an increase of 92.2% from the July 30th total of 32,252 shares. Based on an average daily volume of 50,515 shares, the days-to-cover ratio is presently 1.2 days. Currently, 2.2% of the shares of the company are sold short.

Aclarion Price Performance

Shares of NASDAQ:ACON opened at $2.40 on Monday. The company has a market capitalization of $6.91 million, a price-to-earnings ratio of -0.32 and a beta of 1.21. Aclarion has a fifty-two week low of $1.95 and a fifty-two week high of $12.03. The firm’s 50 day simple moving average is $2.60 and its 200 day simple moving average is $2.97.

Aclarion (NASDAQ:ACON) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.03 million. Equities research analysts expect that Aclarion will post -4.51 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ryan Bond purchased 21,122 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were 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 of the company’s stock, valued at $180,409.14. This represents a 38.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have bought 51,863 shares of company stock worth $125,670. 0.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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