CION Investment (NYSE:CION) Price Target Cut to $9.00 by Analysts at Wells Fargo & Company

CION Investment (NYSE:CION) had its price objective dropped by Wells Fargo & Company from $10.00 to $9.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential downside of 10.98% from the stock’s current price.

CION Investment Stock Performance

Shares of CION Investment stock traded up $0.03 during trading on Monday, reaching $10.11. The company’s stock had a trading volume of 39,832 shares, compared to its average volume of 347,892. CION Investment has a one year low of $8.51 and a one year high of $12.71. The firm has a market cap of $536.10 million, a price-to-earnings ratio of 6.88 and a beta of 1.17. The business’s fifty day moving average price is $10.76 and its 200-day moving average price is $11.31.

CION Investment (NYSE:CION) last announced its quarterly earnings results 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 net margin of 31.21% and a return on equity of 11.49%. The business had revenue of $87.91 million during the quarter, compared to the consensus estimate of $54.11 million. Sell-side analysts anticipate that CION Investment will post 1.78 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ameriflex Group Inc. acquired a new position in shares of CION Investment in the 4th quarter valued at approximately $55,000. Golden State Wealth Management LLC acquired a new stake in shares of CION Investment in the 4th quarter valued at about $96,000. Aquatic Capital Management LLC bought a new stake in shares of CION Investment in the fourth quarter valued at about $103,000. Coppell Advisory Solutions LLC boosted its position 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 worth $123,000 after buying an additional 1,093 shares during the period. Finally, GWN Securities Inc. bought a new position in shares of CION Investment during the fourth quarter worth about $124,000. 32.01% of the stock is owned by institutional investors and hedge funds.

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.