Insider Buying: Aclarion (NASDAQ:ACON) Director Purchases $15,989.61 in Stock

Aclarion, Inc. (NASDAQ:ACONGet Free Report) Director Amanda Williams purchased 5,857 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was acquired at an average price of $2.73 per share, for a total transaction of $15,989.61. Following the completion of the purchase, the director directly owned 25,857 shares of the company’s stock, valued at $70,589.61. This represents a 29.28% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Aclarion Trading Down 6.1%

ACON opened at $2.60 on Wednesday. The company has a market cap of $7.49 million, a P/E ratio of -0.35 and a beta of 1.22. Aclarion, Inc. has a 1-year low of $1.95 and a 1-year high of $12.03. The company’s 50 day moving average is $2.68 and its 200-day moving average is $2.98.

Aclarion (NASDAQ:ACONGet Free Report) last released its earnings results on Thursday, August 6th. The company reported ($1.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.07). Aclarion had a negative net margin of 10,948.81% and a negative return on equity of 59.34%. The firm had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.03 million. On average, equities analysts forecast that Aclarion, Inc. will post -4.51 EPS for the current year.

Aclarion declared that its board has authorized 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 reacquire up to 31% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ACON shares. Wall Street Zen raised Aclarion from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings raised Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, August 5th. Finally, Ascendiant Capital Markets upped their price objective on Aclarion from $7.00 to $7.50 and gave the company a “buy” rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.50.

Read Our Latest Stock Analysis on Aclarion

Aclarion Company Profile

(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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