Aclarion (NASDAQ:ACON) Posts Quarterly Earnings Results

by · The Cerbat Gem

Aclarion (NASDAQ:ACON – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.55) by $0.21, Zacks reports. Aclarion had a negative net margin of 10,320.51% and a negative return on equity of 61.10%. The company had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.03 million.

Aclarion Stock Down 1.8%

Shares of ACON stock opened at $3.22 on Friday. Aclarion has a 12-month low of $2.34 and a 12-month high of $12.03. The firm has a market capitalization of $7.92 million, a price-to-earnings ratio of -0.36 and a beta of 1.18. The firm has a fifty day moving average of $3.30 and a 200-day moving average of $4.43.

Aclarion declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 22nd that permits the company to repurchase $2.50 million in shares. This repurchase authorization permits the company to buy up to 31% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ACON. Wall Street Zen raised shares of Aclarion from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings lowered shares of Aclarion from a “sell (e+)” rating to a “sell (e)” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Check Out Our Latest Report on ACON

About Aclarion

(Get Free Report)

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.

Recommended Stories