CION Investment (NYSE:CION) Stock Price Down 1.5% – Here’s Why

CION Investment Corporation (NYSE:CION)’s stock price fell 1.5% during mid-day trading on Wednesday. The stock traded as low as $7.01 and last traded at $7.0550. 359,920 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 314,043 shares. The stock had previously closed at $7.16.

Wall Street Analysts Forecast Growth

CION has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of CION Investment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Zacks Research lowered shares of CION Investment from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $6.50.

CION Investment Stock Down 1.3%

The company’s fifty day moving average price is $7.08 and its two-hundred day moving average price is $6.91. The company has a market cap of $347.11 million, a price-to-earnings ratio of 117.58 and a beta of 1.15.

CION Investment (NYSE:CION) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $49.79 million for the quarter, compared to analyst estimates of $49.78 million. CION Investment had a net margin of 1.17% and a return on equity of 11.95%. On average, equities research analysts predict that CION Investment Corporation will post 1.08 earnings per share for the current fiscal year.

CION Investment Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 28th. Stockholders of record on Friday, December 11th will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 17.0%. The ex-dividend date is Friday, December 11th. CION Investment’s payout ratio is 2,000.00%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. RFG Advisory LLC bought a new stake in CION Investment in the 2nd quarter valued at approximately $64,000. Empowered Funds LLC bought a new position in shares of CION Investment during the 2nd quarter worth approximately $67,000. OneDigital Investment Advisors LLC acquired a new stake in shares of CION Investment in the second quarter valued at approximately $73,000. Global Retirement Partners LLC acquired a new stake in shares of CION Investment in the second quarter valued at approximately $87,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of CION Investment in the first quarter worth $100,000. 32.01% of the stock is currently owned by institutional investors.

CION Investment Company Profile

CION Investment Corporation (NYSE: CION) is a business development company (BDC) that invests in privately held, middle-market companies. The company seeks to generate current income and, to a lesser extent, long-term capital appreciation by providing financing to businesses that may not have access to traditional sources of capital.

CION primarily invests in senior secured loans, including first-lien and second-lien debt, as well as subordinated debt and equity-related securities. Its portfolio companies operate across a range of industries, allowing CION to maintain a diversified investment portfolio rather than focusing on a single sector.

Founded in 2011, CION is externally managed by CION Investment Management, LLC, an investment adviser registered with the U.S.