CION Investment (NYSE:CION) Earns “Underweight” Rating from Wells Fargo & Company

CION Investment (NYSE:CION)‘s stock had its “underweight” rating reaffirmed by investment analysts at Wells Fargo & Company in a research note issued to investors on Monday, MarketBeat.com reports. They currently have a $10.00 price target on the stock, down from their previous price target of $11.00. Wells Fargo & Company‘s price objective indicates a potential downside of 7.54% from the stock’s current price.

CION Investment Stock Performance

Shares of CION Investment stock opened at $10.82 on Monday. CION Investment has a 1 year low of $10.52 and a 1 year high of $12.71. The company has a market capitalization of $576.29 million, a P/E ratio of 7.36 and a beta of 1.11. The company’s fifty day moving average is $11.77 and its two-hundred day moving average is $11.72.

CION Investment (NYSE:CION) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). CION Investment had a return on equity of 11.49% and a net margin of 31.21%. The business had revenue of $87.91 million for the quarter, compared to analysts’ expectations of $54.11 million. As a group, equities analysts expect that CION Investment will post 1.78 earnings per share for the current year.

Institutional Trading of CION Investment

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Founders Financial Alliance LLC boosted its holdings in shares of CION Investment by 5.3% in the fourth quarter. Founders Financial Alliance LLC now owns 21,769 shares of the company’s stock valued at $248,000 after acquiring an additional 1,086 shares in the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of CION Investment by 2.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 42,822 shares of the company’s stock valued at $488,000 after acquiring an additional 1,093 shares in the last quarter. Coppell Advisory Solutions LLC boosted its holdings in shares of CION Investment by 11.1% in the fourth quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company’s stock valued at $123,000 after acquiring an additional 1,093 shares in the last quarter. Endowment Wealth Management Inc. boosted its holdings in shares of CION Investment by 2.6% in the fourth quarter. Endowment Wealth Management Inc. now owns 59,852 shares of the company’s stock valued at $682,000 after acquiring an additional 1,522 shares in the last quarter. Finally, Beck Capital Management LLC boosted its holdings in shares of CION Investment by 6.5% in the third quarter. Beck Capital Management LLC now owns 29,511 shares of the company’s stock valued at $351,000 after acquiring an additional 1,797 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 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.