CION Investment (NYSE:CION) Hits New 12-Month Low – What’s Next?

CION Investment Co. (NYSE:CION) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $9.52 and last traded at $9.69, with a volume of 212578 shares changing hands. The stock had previously closed at $10.20.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reaffirmed an “underweight” rating and set a $10.00 target price (down from $11.00) on shares of CION Investment in a report on Monday, March 17th.

CION Investment Trading Down 6.7 %

The stock has a market capitalization of $504.55 million, a P/E ratio of 6.47 and a beta of 1.17. The business has a 50-day moving average price of $11.58 and a two-hundred day moving average price of $11.61.

CION Investment (NYSE:CION) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). CION Investment had a return on equity of 11.49% and a net margin of 31.21%. The firm had revenue of $87.91 million for the quarter, compared to analyst estimates of $54.11 million. On average, sell-side analysts forecast that CION Investment Co. will post 1.78 earnings per share for the current fiscal year.

CION Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 15.13%. CION Investment’s dividend payout ratio (DPR) is 228.57%.

Institutional Investors Weigh In On CION Investment

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. boosted its position in CION Investment by 14.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 504,411 shares of the company’s stock valued at $5,750,000 after buying an additional 62,365 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in CION Investment in the fourth quarter valued at $1,711,000. A&I Financial Services LLC bought a new position in CION Investment during the 4th quarter worth $386,000. Jane Street Group LLC acquired a new position in CION Investment during the 3rd quarter worth about $161,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of CION Investment in the 4th quarter valued at about $466,000. 32.01% of the stock is currently owned by institutional investors.

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.