CION Investment (NYSE:CION) Upgraded at Wall Street Zen

CION Investment (NYSE:CION) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other research firms have also weighed in on CION. Weiss Ratings reissued a “hold (c-)” rating on shares of CION Investment in a research report on Wednesday, October 8th. Wells Fargo & Company reiterated an “underweight” rating and issued a $8.50 price target (down from $9.00) on shares of CION Investment in a report on Tuesday, August 12th. Finally, Zacks Research lowered CION Investment from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $8.50.

CION Investment Trading Down 1.5%

Shares of NYSE:CION traded down $0.15 during trading on Friday, reaching $9.61. The company’s stock had a trading volume of 315,095 shares, compared to its average volume of 315,237. The stock has a market capitalization of $500.56 million, a PE ratio of -50.58 and a beta of 1.08. CION Investment has a 12 month low of $8.51 and a 12 month high of $12.71. The firm’s 50 day simple moving average is $9.62 and its two-hundred day simple moving average is $9.76.

CION Investment (NYSE:CION) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.39. CION Investment had a positive return on equity of 9.63% and a negative net margin of 4.57%.The company had revenue of $78.71 million for the quarter, compared to analyst estimates of $52.41 million. Research analysts anticipate that CION Investment will post 1.78 EPS for the current fiscal year.

Institutional Investors Weigh In On CION Investment

Several hedge funds have recently modified their holdings of CION. Quarry LP purchased a new stake in CION Investment in the first quarter valued at about $27,000. Private Wealth Management Group LLC purchased a new stake in CION Investment in the third quarter valued at approximately $30,000. Hollencrest Capital Management acquired a new position in CION Investment in the 1st quarter worth approximately $31,000. Wealth Preservation Advisors LLC acquired a new position in CION Investment in the 1st quarter worth approximately $32,000. Finally, WPG Advisers LLC purchased a new position in CION Investment during the 1st quarter worth approximately $36,000. 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.