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

CION Investment (NYSE:CION)‘s stock had its “underweight” rating reissued by investment analysts at Wells Fargo & Company in a report released on Monday. They currently have a $10.00 target price on the stock, down from their previous target price of $11.00. Wells Fargo & Company‘s target price indicates a potential downside of 12.08% from the company’s previous close.

CION Investment Stock Performance

CION stock opened at $11.37 on Monday. The stock’s fifty day moving average is $11.78 and its two-hundred day moving average is $11.74. The stock has a market capitalization of $606.07 million, a price-to-earnings ratio of 7.74 and a beta of 1.11. CION Investment has a 1 year low of $10.52 and a 1 year high of $12.71.

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 analyst estimates of $54.11 million. As a group, analysts predict that CION Investment will post 1.78 EPS for the current fiscal year.

Institutional Investors Weigh In On CION Investment

Several large investors have recently modified their holdings of the stock. Ameriflex Group Inc. purchased a new position in CION Investment in the fourth quarter valued at about $55,000. Golden State Wealth Management LLC acquired a new position in shares of CION Investment during the 4th quarter valued at about $96,000. Aquatic Capital Management LLC bought a new position in shares of CION Investment in the 4th quarter valued at approximately $103,000. Quantbot Technologies LP acquired a new stake in CION Investment in the 3rd quarter worth approximately $104,000. Finally, Coppell Advisory Solutions LLC boosted its position in CION Investment by 11.1% during the fourth quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company’s stock worth $123,000 after purchasing an additional 1,093 shares during the period. 32.01% of the stock is owned by institutional investors.

About CION Investment

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.