CION Investment (NYSE:CION) Sets New 1-Year Low – What’s Next?

CION Investment Co. (NYSE:CION) shares hit a new 52-week low on Friday . The company traded as low as $10.39 and last traded at $10.41, with a volume of 47216 shares changing hands. The stock had previously closed at $10.48.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reissued an “underweight” rating and issued a $10.00 target price (down previously from $11.00) on shares of CION Investment in a report on Monday, March 17th.

CION Investment Stock Performance

The firm has a fifty day moving average price of $11.73 and a 200 day moving average price of $11.67. The firm has a market capitalization of $553.87 million, a price-to-earnings ratio of 7.10 and a beta of 1.11.

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

CION Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 13.79%. The ex-dividend date is Friday, March 28th. CION Investment’s dividend payout ratio is presently 228.57%.

Hedge Funds Weigh In On CION Investment

A number of hedge funds have recently added to or reduced their stakes in CION. Founders Financial Alliance LLC boosted its holdings in shares of CION Investment by 5.3% in the 4th quarter. Founders Financial Alliance LLC now owns 21,769 shares of the company’s stock valued at $248,000 after buying an additional 1,086 shares during the period. Concurrent Investment Advisors LLC boosted its stake in 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 during the period. Coppell Advisory Solutions LLC grew its holdings in shares of CION Investment by 11.1% during the fourth quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company’s stock valued at $123,000 after purchasing an additional 1,093 shares during the last quarter. Endowment Wealth Management Inc. lifted its stake in 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 buying an additional 1,522 shares during the last quarter. Finally, Beck Capital Management LLC boosted its stake in CION Investment by 6.5% during the 3rd quarter. Beck Capital Management LLC now owns 29,511 shares of the company’s stock valued at $351,000 after purchasing an additional 1,797 shares during the period. Institutional investors and hedge funds own 32.01% of the company’s stock.

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.