CION Investment Corporation (NYSE:CION) Short Interest Update

CION Investment Corporation (NYSE:CION) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totaling 270,218 shares, a decline of 29.2% from the December 15th total of 381,877 shares. Based on an average daily volume of 465,739 shares, the short-interest ratio is currently 0.6 days. Approximately 0.5% of the company’s stock are short sold. Approximately 0.5% of the company’s stock are short sold. Based on an average daily volume of 465,739 shares, the short-interest ratio is currently 0.6 days.

Wall Street Analysts Forecast Growth

CION has been the subject of a number of research reports. Zacks Research lowered shares of CION Investment from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of CION Investment in a report on Monday, December 29th. Finally, Wall Street Zen upgraded CION Investment from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $8.50.

Institutional Trading of CION Investment

Large investors have recently modified their holdings of the company. AE Wealth Management LLC raised its holdings in CION Investment by 3.3% in the 2nd quarter. AE Wealth Management LLC now owns 33,123 shares of the company’s stock worth $317,000 after acquiring an additional 1,044 shares during the period. Kestra Private Wealth Services LLC grew its position in shares of CION Investment by 5.0% in the third quarter. Kestra Private Wealth Services LLC now owns 23,324 shares of the company’s stock valued at $221,000 after purchasing an additional 1,111 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of CION Investment by 7.2% in the third quarter. Golden State Wealth Management LLC now owns 20,219 shares of the company’s stock valued at $192,000 after purchasing an additional 1,363 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of CION Investment by 2.9% in the third quarter. Ameriprise Financial Inc. now owns 50,424 shares of the company’s stock worth $478,000 after purchasing an additional 1,406 shares during the period. Finally, Orion Porfolio Solutions LLC lifted its position in shares of CION Investment by 8.1% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 19,269 shares of the company’s stock worth $183,000 after purchasing an additional 1,438 shares during the last quarter. 32.01% of the stock is owned by institutional investors.

CION Investment Price Performance

NYSE:CION traded down $0.18 during trading hours on Monday, reaching $9.47. The company’s stock had a trading volume of 465,400 shares, compared to its average volume of 386,802. The company has a market cap of $493.29 million, a price-to-earnings ratio of 18.57 and a beta of 1.07. CION Investment has a one year low of $8.51 and a one year high of $12.71. The business’s 50-day moving average is $9.80 and its 200-day moving average is $9.85.

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

CION Investment Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.10 per share. This represents a c) annualized dividend and a yield of 12.7%. The ex-dividend date is Friday, March 13th. CION Investment’s dividend payout ratio (DPR) is 235.29%.

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.