CION Investment (NYSE:CION) Rating Increased to Hold at Wall Street Zen

Key Points

• CION Investment was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a potential stabilizing outlook for the stock.
• Wells Fargo & Company lowered its price target for CION from $10.00 to $9.00 and categorized it as "underweight," reflecting caution among analysts regarding the stock's performance.
• During its last quarterly earnings report, CION Investment posted an EPS of $0.32, missing analysts' expectations of $0.34, alongside a negative net margin of 4.57%.

Wall Street Zen upgraded shares of CION Investment (NYSE:CION - Free Report) from a sell rating to a hold rating in a report issued on Saturday.

Separately, Wells Fargo & Company lowered their price objective on CION Investment from $10.00 to $9.00 and set an "underweight" rating for the company in a research report on Monday, April 28th.

CION Investment Price Performance

NYSE:CION traded up $0.03 during trading hours on Friday, hitting $10.77. The company had a trading volume of 319,275 shares, compared to its average volume of 326,936. The company has a market capitalization of $567.18 million, a PE ratio of -56.65 and a beta of 1.11. The stock has a 50-day moving average price of $9.63 and a 200 day moving average price of $10.30. CION Investment has a 52 week low of $8.51 and a 52 week high of $12.71.

CION Investment (NYSE:CION - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $53.34 million. CION Investment had a negative net margin of 4.57% and a positive return on equity of 9.49%. Analysts anticipate that CION Investment will post 1.78 EPS for the current fiscal year.

CION Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 13.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. CION Investment's payout ratio is currently -757.89%.

Hedge Funds Weigh In On CION Investment

Large investors have recently modified their holdings of the stock. Quarry LP purchased a new position in shares of CION Investment in the 1st quarter worth about $27,000. Hollencrest Capital Management bought a new stake in CION Investment in the 1st quarter worth about $31,000. Wealth Preservation Advisors LLC bought a new stake in CION Investment in the 1st quarter worth about $32,000. WPG Advisers LLC bought a new stake in CION Investment in the 1st quarter worth about $36,000. Finally, Ameriflex Group Inc. bought a new stake in CION Investment in the 4th quarter worth about $55,000. 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.