CION Investment Corporation (NYSE:CION) Short Interest Update

CION Investment Corporation (NYSE:CION) saw a significant decrease in short interest during the month of December. As of December 31st, there was short interest totaling 270,218 shares, a decrease of 29.2% from the December 15th total of 381,877 shares. Based on an average daily volume of 465,739 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.5% of the shares of the company are sold short. Approximately 0.5% of the shares of the company are sold short. Based on an average daily volume of 465,739 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investors Weigh In On CION Investment

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Heartland Consultants Inc. purchased a new stake in shares of CION Investment in the fourth quarter valued at approximately $114,000. JPMorgan Chase & Co. increased its position in shares of CION Investment by 103.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 28,530 shares of the company’s stock valued at $270,000 after acquiring an additional 14,515 shares during the period. Kestra Private Wealth Services LLC raised its stake in shares of CION Investment by 5.0% in the third quarter. Kestra Private Wealth Services LLC now owns 23,324 shares of the company’s stock worth $221,000 after purchasing an additional 1,111 shares during the last quarter. Bank of America Corp DE lifted its stake in CION Investment by 1,084.0% during the 3rd quarter. Bank of America Corp DE now owns 88,299 shares of the company’s stock valued at $837,000 after acquiring an additional 80,841 shares during the period. Finally, Aquatic Capital Management LLC lifted its position in CION Investment by 165.0% during the third quarter. Aquatic Capital Management LLC now owns 10,354 shares of the company’s stock valued at $98,000 after purchasing an additional 6,447 shares during the period. Hedge funds and other institutional investors own 32.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Zacks Research lowered CION Investment from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Wall Street Zen raised shares of CION Investment from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CION Investment in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $8.50.

CION Investment Trading Down 1.9%

Shares of CION Investment stock traded down $0.18 during trading on Friday, hitting $9.47. The stock had a trading volume of 465,400 shares, compared to its average volume of 397,707. CION Investment has a 12 month low of $8.51 and a 12 month high of $12.71. The firm has a market cap of $493.29 million, a price-to-earnings ratio of 18.57 and a beta of 1.07. The business’s 50-day moving average is $9.80 and its 200 day moving average is $9.85.

CION Investment (NYSE:CION) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.39. The company had revenue of $78.71 million during the quarter, compared to analysts’ expectations of $52.41 million. CION Investment had a net margin of 10.59% and a return on equity of 12.02%. As a group, equities analysts expect that CION Investment will post 1.78 EPS for the current year.

CION Investment Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 12.7%. CION Investment’s dividend payout ratio (DPR) is 282.35%.

About CION Investment

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.