Aclarion, Inc. (NASDAQ:ACON) Sees Large Decrease in Short Interest

Aclarion, Inc. (NASDAQ:ACONGet Free Report) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 54,618 shares, a decrease of 56.7% from the June 15th total of 126,156 shares. Based on an average trading volume of 104,936 shares, the short-interest ratio is presently 0.5 days. Approximately 2.2% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Ascendiant Capital Markets boosted their target price on shares of Aclarion from $7.00 to $7.50 and gave the company a “buy” rating in a research note on Friday, May 29th. Weiss Ratings raised shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. Finally, Wall Street Zen upgraded shares of Aclarion from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Aclarion currently has an average rating of “Hold” and an average target price of $7.50.

Check Out Our Latest Stock Report on Aclarion

Aclarion Stock Performance

Shares of ACON opened at $2.67 on Wednesday. The company has a market cap of $6.57 million, a price-to-earnings ratio of -0.30 and a beta of 1.21. The stock has a fifty day moving average price of $3.11 and a two-hundred day moving average price of $3.37. Aclarion has a 52-week low of $2.34 and a 52-week high of $12.03.

Aclarion (NASDAQ:ACONGet Free Report) last announced its earnings results on Wednesday, May 13th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.55) by $0.21. Aclarion had a negative return on equity of 54.41% and a negative net margin of 10,320.51%.The company had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.03 million. As a group, research analysts predict that Aclarion will post -4.51 EPS for the current fiscal year.

Aclarion declared that its Board of Directors has initiated a stock buyback program on Wednesday, April 22nd that authorizes the company to buyback $2.50 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 31% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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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