Aclarion (NASDAQ:ACON) Trading Down 5.3% – What’s Next?

Shares of Aclarion, Inc. (NASDAQ:ACON) traded down 5.3% on Monday . The stock traded as low as $2.63 and last traded at $2.69. 61,034 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 68,744 shares. The stock had previously closed at $2.84.

Analysts Set New Price Targets

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

Aclarion Stock Down 5.3%

The company has a market cap of $6.62 million, a PE ratio of -0.30 and a beta of 1.21. The stock’s 50 day simple moving average is $3.13 and its two-hundred day simple moving average is $3.39.

Aclarion (NASDAQ:ACON) last released its quarterly earnings data 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 net margin of 10,320.51% and a negative return on equity of 54.41%. The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.03 million. Analysts forecast that Aclarion, Inc. will post -4.51 EPS for the current year.

Aclarion announced that its Board of Directors has initiated a stock buyback plan on Wednesday, April 22nd that permits the company to repurchase $2.50 million in shares. This repurchase authorization permits the company to reacquire up to 31% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Aclarion Company Profile

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.