CION Investment (NYSE:CION) Reaches New 52-Week Low - Here's Why

Shares of CION Investment Co. (NYSE:CION - Get Free Report) hit a new 52-week low during trading on Friday . The stock traded as low as $9.52 and last traded at $9.69, with a volume of 212578 shares. The stock had previously closed at $10.20.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company restated an "underweight" rating and issued a $10.00 price objective (down previously from $11.00) on shares of CION Investment in a research note on Monday, March 17th.

CION Investment Trading Up 7.9 %

The stock has a fifty day moving average price of $11.42 and a 200-day moving average price of $11.54. The firm has a market capitalization of $496.86 million, a price-to-earnings ratio of 6.37 and a beta of 1.17.

CION Investment (NYSE:CION - Get Free Report) last issued its 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 firm had revenue of $87.91 million during the quarter, compared to analyst estimates of $54.11 million. CION Investment had a net margin of 31.21% and a return on equity of 11.49%. On average, equities analysts expect that CION Investment Co. will post 1.78 EPS for the current year.

CION Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 15.37%. The ex-dividend date of this dividend is Friday, March 28th. CION Investment's payout ratio is currently 228.57%.

Hedge Funds Weigh In On CION Investment

Several institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in shares of CION Investment in the fourth quarter valued at $1,711,000. Hennion & Walsh Asset Management Inc. raised its position in CION Investment by 14.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 504,411 shares of the company's stock worth $5,750,000 after purchasing an additional 62,365 shares during the last quarter. A&I Financial Services LLC acquired a new position in CION Investment during the 4th quarter worth $386,000. Jane Street Group LLC bought a new position in CION Investment in the 3rd quarter valued at $161,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of CION Investment in the 4th quarter valued at $466,000. Institutional investors own 32.01% of the company's stock.

CION Investment Company Profile

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.