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

Aclarion, Inc. (NASDAQ:ACON – Get Free Report) Director David Neal acquired 7,500 shares of the 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 purchase, the director directly owned 30,002 shares of the company’s stock, valued at $72,004.80. The trade was a 33.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Aclarion Stock Performance

Shares of ACON stock opened at $2.46 on Monday. Aclarion, Inc. has a twelve month low of $1.95 and a twelve month high of $12.03. The stock 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 moving average price is $2.71 and its 200-day moving average price is $3.00.

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Aclarion (NASDAQ:ACON – Get Free Report) last announced its quarterly earnings results 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). The firm 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%. As a group, equities research analysts predict that Aclarion, Inc. will post -4.51 EPS for the current year.

Aclarion declared that its Board of Directors has approved a stock repurchase 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 often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Ascendiant Capital Markets boosted 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. Wall Street Zen raised Aclarion from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Weiss Ratings raised shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Aclarion has an average rating of “Hold” and an average target price of $7.50.

View Our Latest Analysis on ACON

Aclarion Company Profile

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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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