Insider Buying: Aclarion (NASDAQ:ACON) Director Buys 5,664 Shares of Stock

Aclarion, Inc. (NASDAQ:ACON – Get Free Report) Director Scott Breidbart purchased 5,664 shares of the stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $3.18 per share, with a total value of $18,011.52. Following the transaction, the director directly owned 5,664 shares in the company, valued at approximately $18,011.52. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Aclarion Stock Up 1.6%

ACON stock traded up $0.05 during trading on Tuesday, hitting $3.15. 81,112 shares of the company’s stock traded hands, compared to its average volume of 625,659. The firm has a market capitalization of $7.75 million, a P/E ratio of -0.19 and a beta of 1.18. The business has a fifty day simple moving average of $3.28 and a two-hundred day simple moving average of $4.53. Aclarion, Inc. has a 1 year low of $2.34 and a 1 year high of $12.03.

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Aclarion (NASDAQ:ACON – Get Free Report) last issued its quarterly earnings data on Wednesday, March 18th. The company reported ($2.01) EPS for the quarter, topping analysts’ consensus estimates of ($3.60) by $1.59. The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.02 million. Aclarion had a negative net margin of 9,517.11% and a negative return on equity of 52.31%. On average, equities research analysts predict that Aclarion, Inc. will post -4.37 EPS for the current fiscal year.

Aclarion declared that its Board of Directors has initiated a share buyback plan 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 plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ACON shares. Wall Street Zen raised Aclarion from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings downgraded shares of Aclarion from a “sell (e+)” rating to a “sell (e)” rating in a report on Friday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

View Our Latest Analysis on ACON

About Aclarion

(Get Free Report)

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.

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