CION Investment (NYSE:CION) Stock Rating Upgraded by Zacks Research

CION Investment (NYSE:CION) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other research firms have also issued reports on CION. Wells Fargo & Company lowered their price target on shares of CION Investment from $7.00 to $6.50 and set an “underweight” rating on the stock in a research report on Monday, May 11th. Wall Street Zen downgraded shares of CION Investment from a “strong-buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Weiss Ratings raised shares of CION Investment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.50.

CION Investment Stock Performance

CION opened at $6.51 on Tuesday. CION Investment has a fifty-two week low of $5.97 and a fifty-two week high of $10.93. The firm has a 50-day moving average of $6.88 and a 200 day moving average of $7.90. The firm has a market cap of $324.38 million, a P/E ratio of -162.83 and a beta of 1.10.

CION Investment (NYSE:CION) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). CION Investment had a positive return on equity of 11.96% and a negative net margin of 0.41%.The company had revenue of $49.54 million during the quarter, compared to the consensus estimate of $49.12 million. Equities research analysts predict that CION Investment will post 1.05 earnings per share for the current fiscal year.

Institutional Trading of CION Investment

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Closed End Fund Advisors Inc. bought a new position in CION Investment in the 4th quarter valued at $4,602,000. Invesco Ltd. grew its position in shares of CION Investment by 33.6% during the 2nd quarter. Invesco Ltd. now owns 1,343,185 shares of the company’s stock valued at $12,854,000 after purchasing an additional 338,121 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of CION Investment by 406.9% in the fourth quarter. Jane Street Group LLC now owns 317,818 shares of the company’s stock worth $3,073,000 after purchasing an additional 255,115 shares during the period. Sherman Porfolios LLC bought a new position in shares of CION Investment in the fourth quarter worth $1,874,000. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of CION Investment in the fourth quarter worth $1,832,000. Institutional investors own 32.01% of the company’s stock.

CION Investment Company Profile

CION Investment Corporation is a closed‐end, non‐diversified management investment company organized as a business development company under the Investment Company Act of 1940. Externally managed by CION Investment Management, LLC, the firm specializes in providing flexible capital solutions to U.S. and Canadian middle‐market companies. By combining debt and equity financing, CION seeks to support growth, acquisitions, recapitalizations and other strategic initiatives for its portfolio companies.

The company’s investment strategy centers on senior secured loans, subordinated debt and private equity interests.