CION Investment (NYSE:CION - Get Free Report)'s stock had its "underweight" rating reiterated by stock analysts at Wells Fargo & Company in a research report issued to clients and investors on Monday, MarketBeat.com reports. They presently have a $10.00 price target on the stock, down from their previous price target of $11.00. Wells Fargo & Company's price objective indicates a potential downside of 7.79% from the stock's current price.
CION Investment Stock Down 0.9 %
NYSE CION traded down $0.10 during trading hours on Monday, hitting $10.85. 515,595 shares of the company were exchanged, compared to its average volume of 233,356. The company has a 50 day moving average of $11.76 and a two-hundred day moving average of $11.71. The firm has a market cap of $575.08 million, a price-to-earnings ratio of 7.38 and a beta of 1.11. CION Investment has a 52-week low of $10.52 and a 52-week high of $12.71.
CION Investment (NYSE:CION - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $87.91 million for the quarter, compared to analysts' expectations of $54.11 million. CION Investment had a return on equity of 11.49% and a net margin of 31.21%. On average, equities research analysts predict that CION Investment will post 1.78 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of CION. Invesco Ltd. acquired a new stake in CION Investment during the fourth quarter worth about $11,882,000. Wells Fargo & Company MN boosted its position in CION Investment by 6,958.9% during the 4th quarter. Wells Fargo & Company MN now owns 722,201 shares of the company's stock valued at $8,233,000 after purchasing an additional 711,970 shares during the period. Bulldog Investors LLP grew its stake in CION Investment by 62.4% during the 4th quarter. Bulldog Investors LLP now owns 1,682,352 shares of the company's stock worth $19,190,000 after buying an additional 646,596 shares during the last quarter. Wealthfront Advisers LLC bought a new position in CION Investment in the 4th quarter worth about $6,899,000. Finally, CF Capital LLC acquired a new stake in shares of CION Investment in the fourth quarter valued at approximately $4,809,000. Hedge funds and other institutional investors own 32.01% of the company's stock.
About CION Investment
(
Get Free Report)
CION Investment Corporation is a business development company. It specializes in investments in senior secured loans, including unitranche loans, First Lien, second lien loans, long-term subordinated loans, and mezzanine loans; equity interests such as warrants or options; and corporate bonds; and other debt securities in middle-market companies.
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