Aclarion, Inc. (NASDAQ:ACON) Sees Large Growth in Short Interest

Aclarion, Inc. (NASDAQ:ACON) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 197,719 shares, an increase of 39.0% from the March 31st total of 142,278 shares. Based on an average daily volume of 130,730 shares, the short-interest ratio is presently 1.5 days. Currently, 8.7% of the shares of the company are sold short.

Aclarion Stock Up 2.1%

ACON stock opened at $3.37 on Tuesday. The stock has a market capitalization of $7.69 million, a P/E ratio of -0.20 and a beta of 1.13. The firm has a 50-day simple moving average of $3.17 and a 200-day simple moving average of $4.83. Aclarion has a 52 week low of $2.34 and a 52 week high of $12.03.

Aclarion (NASDAQ:ACON) last released its earnings results on Wednesday, March 18th. The company reported ($2.01) EPS for the quarter, topping analysts’ consensus estimates of ($3.60) by $1.59. The business had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.02 million. Aclarion had a negative net margin of 9,517.11% and a negative return on equity of 52.31%. On average, analysts expect that Aclarion will post -4.37 earnings per share for the current year.

Aclarion announced that its board has approved a share repurchase program on Wednesday, April 22nd that authorizes the company to buyback $2.50 million in shares. This buyback authorization authorizes the company to reacquire up to 31% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ACON shares. Wall Street Zen raised shares of Aclarion from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings raised shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Aclarion Company Profile

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.