Short Interest in Aclarion, Inc. (NASDAQ:ACON) Expands By 42.3%

Aclarion, Inc. (NASDAQ:ACON) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 428,800 shares, an increase of 42.3% from the October 15th total of 301,400 shares. Based on an average trading volume of 609,700 shares, the days-to-cover ratio is presently 0.7 days. Approximately 4.5% of the company’s stock are sold short.

Institutional Trading of Aclarion

A hedge fund recently bought a new stake in Aclarion stock. Virtu Financial LLC bought a new position in Aclarion, Inc. (NASDAQ:ACON) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 115,183 shares of the company’s stock, valued at approximately $38,000. Virtu Financial LLC owned about 1.40% of Aclarion at the end of the most recent quarter. Institutional investors and hedge funds own 7.52% of the company’s stock.

Aclarion Price Performance

NASDAQ ACON opened at $0.17 on Thursday. The company has a 50 day simple moving average of $0.18 and a 200-day simple moving average of $0.25. Aclarion has a 52-week low of $0.16 and a 52-week high of $7.40.

Aclarion (NASDAQ:ACON) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.04. The business had revenue of $0.01 million for the quarter. Aclarion had a negative return on equity of 910.84% and a negative net margin of 10,967.15%. Research analysts predict that Aclarion will post -0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets reaffirmed a “buy” rating and set a $1.50 target price (down previously from $1.60) on shares of Aclarion in a research note on Monday, August 26th.

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.