Aclarion (NASDAQ:ACON) Issues Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Aclarion (NASDAQ:ACON) posted its quarterly earnings data on Thursday. The company reported ($0.94) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.21, FiscalAI reports. The company had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.03 million. Aclarion had a negative net margin of 10,948.81% and a negative return on equity of 59.34%.

Aclarion Price Performance

ACON stock traded down $0.18 during trading on Thursday, hitting $1.56. The stock had a trading volume of 13,661 shares, compared to its average volume of 296,306. Aclarion has a twelve month low of $1.54 and a twelve month high of $9.36. The company’s 50-day moving average price is $2.27 and its two-hundred day moving average price is $2.83. The stock has a market capitalization of $4.49 million, a P/E ratio of -0.21 and a beta of 1.21.

Insider Activity at Aclarion

In other news, Director Ryan Bond bought 21,122 shares of Aclarion stock in a transaction on Thursday, August 13th. The stock was acquired at an average price of $2.37 per share, with a total value of $50,059.14. Following the completion of the acquisition, the director directly owned 76,122 shares of the company’s stock, valued at $180,409.14. The trade was a 38.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased a total of 51,863 shares of company stock worth $125,670 over the last ninety days. 0.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Aclarion in a research report on Tuesday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.50.

About Aclarion

Aclarion, Inc is a medical technology company focused on improving the diagnosis and treatment of chronic low back pain. The company develops data-driven tools intended to help physicians identify the spinal discs most likely to be contributing to a patient’s pain and support more informed treatment decisions.

Its principal product is Nociscan, a cloud-based software platform that analyzes magnetic resonance spectroscopy data from the spine. Using proprietary algorithms and chemical biomarkers associated with disc degeneration, Nociscan is designed to provide information about disc health and help distinguish potentially painful discs from discs that may not be the primary source of symptoms.

Aclarion’s technology is intended for use by spine specialists, radiologists and other healthcare providers as an adjunct to conventional imaging and clinical evaluation.