Aclarion, Inc. (NASDAQ:ACON) Short Interest Update

Aclarion, Inc. (NASDAQ:ACON) was the recipient of a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 54,618 shares, a drop of 56.7% from the June 15th total of 126,156 shares. Currently, 2.2% of the shares of the company are short sold. Based on an average daily trading volume, of 104,936 shares, the short-interest ratio is presently 0.5 days.

Analysts Set New Price Targets

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

Aclarion Stock Performance

ACON opened at $2.66 on Thursday. The firm has a market cap of $6.54 million, a P/E ratio of -0.29 and a beta of 1.21. Aclarion has a 52-week low of $2.34 and a 52-week high of $12.03. The business’s fifty day moving average is $3.10 and its 200-day moving average is $3.35.

Aclarion (NASDAQ:ACON) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($1.34) EPS 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 the consensus estimate of $0.03 million. On average, research analysts predict that Aclarion will post -4.51 earnings per share for the current fiscal year.

Aclarion declared that its board has approved a stock repurchase plan on Wednesday, April 22nd that permits the company to repurchase $2.50 million in outstanding shares. This repurchase authorization permits the company to purchase up to 31% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership 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.