Wall Street Zen Downgrades Aclarion (NASDAQ:ACON) to Sell

Aclarion (NASDAQ:ACON) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other research analysts have also recently commented on ACON. Ascendiant Capital Markets boosted their target price on Aclarion from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Friday, May 29th. Weiss Ratings upgraded Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 22nd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.50.

Aclarion Trading Up 1.1%

Shares of NASDAQ ACON opened at $3.57 on Friday. Aclarion has a twelve month low of $2.34 and a twelve month high of $12.03. The stock has a fifty day simple moving average of $3.31 and a 200-day simple moving average of $4.00. The stock has a market capitalization of $8.78 million, a PE ratio of -0.40 and a beta of 1.22.

Aclarion (NASDAQ:ACON) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($1.34) earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $0.03 million. On average, equities analysts predict that Aclarion will post -4.51 earnings per share for the current year.

Aclarion announced that its board has authorized a share buyback program on Wednesday, April 22nd that permits the company to buyback $2.50 million in outstanding shares. This buyback authorization permits the company to purchase up to 31% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board 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.