CION Investment (NYSE:CION) Stock Rating Upgraded by Wall Street Zen

CION Investment (NYSE:CION) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

A number of other equities research analysts have also weighed in on the company. Zacks Research lowered CION Investment from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of CION Investment in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $8.50.

CION Investment Price Performance

CION Investment stock opened at $9.47 on Friday. The stock has a market cap of $493.29 million, a price-to-earnings ratio of 18.57 and a beta of 1.07. The firm has a 50-day moving average of $9.80 and a two-hundred day moving average of $9.85. CION Investment has a 1 year low of $8.51 and a 1 year high of $12.71.

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

Hedge Funds Weigh In On CION Investment

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AE Wealth Management LLC increased its holdings in shares of CION Investment by 3.3% during the second quarter. AE Wealth Management LLC now owns 33,123 shares of the company’s stock valued at $317,000 after acquiring an additional 1,044 shares in the last quarter. Kestra Private Wealth Services LLC grew its position in CION Investment by 5.0% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 23,324 shares of the company’s stock worth $221,000 after purchasing an additional 1,111 shares during the last quarter. Golden State Wealth Management LLC increased its stake in CION Investment by 7.2% during the 3rd 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 in the last quarter. Ameriprise Financial Inc. increased its stake in CION Investment by 2.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 50,424 shares of the company’s stock valued at $478,000 after purchasing an additional 1,406 shares in the last quarter. Finally, Orion Porfolio Solutions LLC raised its holdings in shares of CION Investment by 8.1% in the third quarter. Orion Porfolio Solutions LLC now owns 19,269 shares of the company’s stock worth $183,000 after buying an additional 1,438 shares during the last quarter. Hedge funds and other institutional investors own 32.01% of the company’s stock.

About CION Investment

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.