Wells Fargo & Company Cuts CION Investment (NYSE:CION) Price Target to $11.50

CION Investment (NYSE:CION - Get Free Report) had its price objective dropped by stock analysts at Wells Fargo & Company from $12.00 to $11.50 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential downside of 2.38% from the company's current price.

Separately, Oppenheimer assumed coverage on CION Investment in a research report on Tuesday, October 8th. They set a "market perform" rating and a $13.00 price target on the stock.

CION Investment Trading Down 1.6 %

NYSE:CION traded down $0.19 on Tuesday, hitting $11.78. The company's stock had a trading volume of 229,129 shares, compared to its average volume of 227,888. The stock has a fifty day moving average of $11.93 and a two-hundred day moving average of $12.00. The firm has a market capitalization of $631.28 million, a P/E ratio of 4.87 and a beta of 1.18. CION Investment has a one year low of $9.77 and a one year high of $12.69.

CION Investment (NYSE:CION - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter. The company had revenue of $61.36 million for the quarter. CION Investment had a return on equity of 12.39% and a net margin of 48.50%. As a group, sell-side analysts anticipate that CION Investment will post 1.77 EPS for the current year.

Institutional Trading of CION Investment

Several large investors have recently made changes to their positions in CION. International Assets Investment Management LLC grew its stake in CION Investment by 1,090.0% in the 3rd quarter. International Assets Investment Management LLC now owns 871,080 shares of the company's stock valued at $103,660,000 after purchasing an additional 797,880 shares during the period. Private Advisor Group LLC boosted its position in CION Investment by 674.1% during the second quarter. Private Advisor Group LLC now owns 617,444 shares of the company's stock worth $7,483,000 after purchasing an additional 537,681 shares during the period. Cetera Investment Advisers raised its position in shares of CION Investment by 2,340.1% in the first quarter. Cetera Investment Advisers now owns 524,131 shares of the company's stock valued at $5,765,000 after purchasing an additional 502,651 shares during the period. Alpine Global Management LLC lifted its stake in shares of CION Investment by 143.6% during the 1st quarter. Alpine Global Management LLC now owns 633,297 shares of the company's stock valued at $6,966,000 after buying an additional 373,297 shares in the last quarter. Finally, Diversify Wealth Management LLC bought a new position in CION Investment in the 2nd quarter worth approximately $2,250,000. 32.01% of the stock is currently owned by institutional investors and hedge funds.

About CION Investment

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.