Aclarion (NASDAQ:ACON) Stock Rating Upgraded by Wall Street Zen

Aclarion (NASDAQ:ACON) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other equities research analysts have also weighed in on the stock. Ascendiant Capital Markets boosted their price objective on shares of Aclarion from $7.00 to $7.50 and gave the stock a “buy” rating in a report on Friday, May 29th. Weiss Ratings cut shares of Aclarion from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, June 12th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Aclarion currently has a consensus rating of “Hold” and an average price target of $7.50.

Aclarion Price Performance

NASDAQ:ACON opened at $3.12 on Friday. The business has a 50 day moving average of $3.27 and a 200 day moving average of $3.80. The company has a market capitalization of $7.68 million, a price-to-earnings ratio of -0.35 and a beta of 1.22. Aclarion has a 1-year low of $2.34 and a 1-year high of $12.03.

Aclarion (NASDAQ:ACON) last issued its earnings results on Wednesday, May 13th. The company reported ($1.34) earnings per share (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 business had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.03 million. As a group, sell-side analysts anticipate that Aclarion will post -4.51 EPS for the current year.

Aclarion declared that its board has approved a stock buyback program on Wednesday, April 22nd that authorizes the company to repurchase $2.50 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 31% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

About Aclarion

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.