Aclarion, Inc. (NASDAQ:ACON) Sees Significant Drop in Short Interest

Aclarion, Inc. (NASDAQ:ACON) was the target of a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 142,742 shares, a decline of 14.4% from the February 26th total of 166,784 shares. Based on an average daily trading volume, of 92,421 shares, the short-interest ratio is presently 1.5 days. Approximately 16.9% of the company’s shares are short sold.

Aclarion Stock Performance

Aclarion stock opened at $3.41 on Thursday. The company has a market capitalization of $7.77 million, a PE ratio of -0.20 and a beta of 1.13. The company has a 50 day moving average price of $3.04 and a 200-day moving average price of $5.43. Aclarion has a fifty-two week low of $2.34 and a fifty-two week high of $13.69.

Aclarion (NASDAQ:ACON) last announced its quarterly earnings data on Wednesday, March 18th. The company reported ($2.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.60) by $1.59. The company had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.02 million. Aclarion had a negative return on equity of 52.31% and a negative net margin of 9,517.11%. On average, analysts forecast that Aclarion will post -263.33 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Aclarion from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings restated a “sell (e+)” rating on shares of Aclarion in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

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.