CION Investment (NYSE:CION) Stock Rating Lowered by Zacks Research

CION Investment (NYSE:CION) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other analysts have also issued reports about the stock. Wall Street Zen lowered shares of CION Investment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of CION Investment in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, CION Investment presently has a consensus rating of “Reduce” and an average price target of $8.50.

CION Investment Trading Up 0.6%

CION traded up $0.06 on Monday, hitting $9.47. 113,566 shares of the company’s stock were exchanged, compared to its average volume of 384,954. CION Investment has a fifty-two week low of $8.51 and a fifty-two week high of $12.71. The stock has a market cap of $493.03 million, a price-to-earnings ratio of 18.53 and a beta of 1.07. The firm has a 50-day moving average price of $9.80 and a 200-day moving average price of $9.86.

CION Investment (NYSE:CION) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.39. The business had revenue of $78.71 million during the quarter, compared to the consensus estimate of $52.41 million. CION Investment had a net margin of 10.59% and a return on equity of 12.02%. On average, equities analysts predict that CION Investment will post 1.78 EPS for the current year.

Institutional Trading of CION Investment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CION. Financial Gravity Companies Inc. acquired a new position in CION Investment during the 2nd quarter worth approximately $934,000. Advisors Asset Management Inc. lifted its position in shares of CION Investment by 63.0% during the second quarter. Advisors Asset Management Inc. now owns 219,520 shares of the company’s stock worth $2,101,000 after purchasing an additional 84,855 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of CION Investment by 381.2% in the second quarter. Y Intercept Hong Kong Ltd now owns 63,351 shares of the company’s stock valued at $606,000 after purchasing an additional 50,186 shares during the period. Berger Financial Group Inc increased its stake in CION Investment by 27.6% during the 2nd quarter. Berger Financial Group Inc now owns 487,404 shares of the company’s stock worth $4,664,000 after buying an additional 105,478 shares during the period. Finally, Whipplewood Advisors LLC lifted its holdings in CION Investment by 208,880.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 52,245 shares of the company’s stock worth $500,000 after buying an additional 52,220 shares in the last quarter. Hedge funds and other institutional investors own 32.01% of the company’s stock.

CION Investment Company Profile

CION Investment Corporation is a closed‐end, non‐diversified management investment company organized as a business development company under the Investment Company Act of 1940. Externally managed by CION Investment Management, LLC, the firm specializes in providing flexible capital solutions to U.S. and Canadian middle‐market companies. By combining debt and equity financing, CION seeks to support growth, acquisitions, recapitalizations and other strategic initiatives for its portfolio companies.

The company’s investment strategy centers on senior secured loans, subordinated debt and private equity interests.