Scott Breidbart Purchases 5,664 Shares of Aclarion (NASDAQ:ACON) Stock

Aclarion, Inc. (NASDAQ:ACON) Director Scott Breidbart bought 5,664 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average cost of $3.18 per share, with a total value of $18,011.52. Following the completion of the transaction, the director owned 5,664 shares of the company’s stock, valued at $18,011.52. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

Aclarion Stock Performance

Shares of ACON stock opened at $3.28 on Thursday. Aclarion, Inc. has a 52-week low of $2.34 and a 52-week high of $12.03. The company has a 50-day simple moving average of $3.29 and a two-hundred day simple moving average of $4.46. The company has a market capitalization of $8.07 million, a price-to-earnings ratio of -0.19 and a beta of 1.18.

Aclarion (NASDAQ:ACON) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.55) by $0.21. Aclarion had a negative net margin of 9,517.11% and a negative return on equity of 52.31%. On average, sell-side analysts forecast that Aclarion, Inc. will post -4.37 EPS for the current fiscal year.

Aclarion announced that its Board of Directors has initiated a share buyback program on Wednesday, April 22nd that permits the company to repurchase $2.50 million in shares. This repurchase authorization permits the company to purchase up to 31% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Aclarion from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings downgraded shares of Aclarion from a “sell (e+)” rating to a “sell (e)” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Aclarion currently 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.