CION Investment (NYSE:CION) Receives Hold (C-) Rating from Weiss Ratings

Key Points

• CION Investment's stock received a Hold (C-) rating from Weiss Ratings, reflecting a cautious outlook from analysts.
• The company reported disappointing quarterly earnings, missing the consensus EPS estimate by two cents and also falling short on revenue expectations.
• Market activity shows shares traded at $9.43 with a recent target price of $8.50, indicating analysts are not optimistic about short-term price recovery.

CION Investment (NYSE:CION - Get Free Report)'s stock had its "hold (c-)" rating reiterated by analysts at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

Several other research firms have also weighed in on CION. Zacks Research lowered CION Investment from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 10th. Wall Street Zen raised CION Investment from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and issued a $8.50 target price (down previously from $9.00) on shares of CION Investment in a research report on Tuesday, August 12th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, CION Investment currently has a consensus rating of "Reduce" and an average target price of $8.50.

CION Investment Price Performance

Shares of CION traded down $0.05 during trading hours on Friday, hitting $9.43. 192,750 shares of the company were exchanged, compared to its average volume of 270,823. The company has a market capitalization of $490.95 million, a PE ratio of -49.60 and a beta of 1.08. The firm has a fifty day simple moving average of $9.89 and a 200-day simple moving average of $9.74. CION Investment has a one year low of $8.51 and a one year high of $12.71.

CION Investment (NYSE:CION - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). The company had revenue of $52.24 million for the quarter, compared to the consensus estimate of $53.34 million. CION Investment had a positive return on equity of 9.63% and a negative net margin of 4.57%. Sell-side analysts expect that CION Investment will post 1.78 EPS for the current year.

Institutional Trading of CION Investment

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP acquired a new stake in shares of CION Investment in the first quarter worth $27,000. Hollencrest Capital Management purchased a new stake in shares of CION Investment during the first quarter worth $31,000. Wealth Preservation Advisors LLC purchased a new stake in shares of CION Investment during the first quarter worth $32,000. Private Wealth Management Group LLC purchased a new stake in shares of CION Investment during the third quarter worth $30,000. Finally, WPG Advisers LLC purchased a new stake in shares of CION Investment during the first quarter worth $36,000. Institutional investors and hedge funds 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.

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