Aclarion (NASDAQ:ACON) Shares Up 0.8% – Should You Buy?

Shares of Aclarion, Inc. (NASDAQ:ACON) traded up 0.8% during trading on Tuesday . The company traded as high as $2.45 and last traded at $2.38. 38,453 shares traded hands during mid-day trading, a decline of 14% from the average daily volume of 44,693 shares. The stock had previously closed at $2.36.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Weiss Ratings downgraded Aclarion from a “sell (e+)” rating to a “sell (e)” rating in a research report on Tuesday, July 21st. Ascendiant Capital Markets lifted 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. Finally, Wall Street Zen raised shares of Aclarion from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. 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, the company currently has an average rating of “Hold” and an average price target of $7.50.

Aclarion Price Performance

The company has a market cap of $5.85 million, a P/E ratio of -0.26 and a beta of 1.21. The stock has a 50-day moving average of $2.87 and a 200 day moving average of $3.08.

Aclarion (NASDAQ:ACON) last announced 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. The firm had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.03 million. Aclarion had a negative net margin of 10,320.51% and a negative return on equity of 54.41%. Sell-side analysts predict that Aclarion, Inc. will post -4.51 EPS for the current year.

Aclarion declared that its Board of Directors has initiated a stock repurchase program on Wednesday, April 22nd that authorizes the company to buyback $2.50 million in shares. This buyback authorization authorizes 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.