CION Investment (NYSE:CION) Lowered to “Hold” Rating by Zacks Research

CION Investment (NYSE:CION) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other research firms have also recently issued reports on CION. Weiss Ratings reissued a “hold (c)” rating on shares of CION Investment in a research report on Monday, December 29th. Wall Street Zen downgraded shares of CION Investment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 3rd. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $8.50.

CION Investment Stock Performance

CION stock opened at $9.42 on Monday. The company has a 50 day moving average price of $9.80 and a two-hundred day moving average price of $9.86. The stock has a market capitalization of $490.43 million, a P/E ratio of 18.46 and a beta of 1.07. CION Investment has a one year low of $8.51 and a one year high of $12.71.

CION Investment (NYSE:CION) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.39. The business had revenue of $78.71 million for the quarter, compared to analysts’ expectations of $52.41 million. CION Investment had a return on equity of 12.02% and a net margin of 10.59%. Research analysts forecast that CION Investment will post 1.78 earnings per share for the current fiscal year.

Institutional Trading of CION Investment

Several institutional investors have recently added to or reduced their stakes in the stock. Private Wealth Management Group LLC bought a new stake in shares of CION Investment in the 3rd quarter worth about $30,000. BNP Paribas Financial Markets acquired a new position in CION Investment in the third quarter worth about $37,000. Legacy Investment Solutions LLC bought a new stake in CION Investment in the second quarter valued at about $74,000. Geneos Wealth Management Inc. raised its stake in CION Investment by 21.7% during the second quarter. Geneos Wealth Management Inc. now owns 8,802 shares of the company’s stock valued at $84,000 after buying an additional 1,571 shares in the last quarter. Finally, Arete Wealth Advisors LLC bought a new position in CION Investment during the 3rd quarter worth approximately $95,000. 32.01% of the stock is owned by institutional investors and hedge funds.

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.