CION Investment (NYSE:CION) PT Lowered to $11.50 at Wells Fargo & Company

CION Investment (NYSE:CION) had its target price dropped by stock analysts at Wells Fargo & Company from $12.00 to $11.50 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 3.28% from the stock’s current price.

Separately, Oppenheimer began coverage on shares of CION Investment in a research note on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price target on the stock.

CION Investment Stock Down 0.7 %

NYSE CION traded down $0.08 on Tuesday, hitting $11.89. 49,672 shares of the stock were exchanged, compared to its average volume of 227,030. The company has a 50-day moving average price of $11.93 and a 200-day moving average price of $12.00. The company has a market cap of $637.17 million, a PE ratio of 4.87 and a beta of 1.18. CION Investment has a fifty-two week low of $9.77 and a fifty-two week high of $12.69.

CION Investment (NYSE:CION) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.43 EPS for the quarter. The business 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, equities research analysts predict that CION Investment will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On CION Investment

A number of hedge funds and other institutional investors have recently made changes to their positions in CION. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of CION Investment by 26.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 442,046 shares of the company’s stock worth $5,260,000 after purchasing an additional 91,221 shares during the period. International Assets Investment Management LLC lifted its stake in shares of 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 worth $103,660,000 after acquiring an additional 797,880 shares during the period. Private Advisor Group LLC boosted its holdings in shares of CION Investment by 5.5% in the third quarter. Private Advisor Group LLC now owns 651,505 shares of the company’s stock valued at $7,753,000 after acquiring an additional 34,061 shares in the last quarter. Strong Tower Advisory Services boosted its holdings in shares of CION Investment by 1,469.2% in the third quarter. Strong Tower Advisory Services now owns 196,199 shares of the company’s stock valued at $2,335,000 after acquiring an additional 183,696 shares in the last quarter. Finally, Founders Financial Alliance LLC increased its stake in shares of CION Investment by 42.6% during the second quarter. Founders Financial Alliance LLC now owns 16,719 shares of the company’s stock worth $203,000 after acquiring an additional 4,993 shares during the period. Hedge funds and other 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.