CION Investment (NYSE:CION) Upgraded to Strong-Buy at Wall Street Zen

CION Investment (NYSE:CION) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Sunday.

A number of other equities research analysts also recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of CION Investment in a research note on Monday, December 15th. Zacks Research upgraded shares of CION Investment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, CION Investment has an average rating of “Hold” and a consensus price target of $8.50.

CION Investment Stock Performance

Shares of CION opened at $9.69 on Friday. The firm’s 50 day moving average price is $9.70 and its 200 day moving average price is $9.81. The firm has a market cap of $504.75 million, a PE ratio of 19.00 and a beta of 1.07. CION Investment has a twelve month low of $8.51 and a twelve month high of $12.71.

CION Investment (NYSE:CION) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.39. CION Investment had a return on equity of 12.02% and a net margin of 10.59%.The firm had revenue of $78.71 million during the quarter, compared to analyst estimates of $52.41 million. On average, sell-side analysts anticipate that CION Investment will post 1.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CION. Kestra Private Wealth Services LLC raised its position in shares of CION Investment by 5.0% during 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 period. Bank of America Corp DE increased 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 worth $837,000 after purchasing an additional 80,841 shares in the last quarter. Aquatic Capital Management LLC increased its stake in CION Investment by 165.0% during the 3rd quarter. Aquatic Capital Management LLC now owns 10,354 shares of the company’s stock worth $98,000 after purchasing an additional 6,447 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in CION Investment by 2.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 50,424 shares of the company’s stock worth $478,000 after buying an additional 1,406 shares during the period. Finally, Two Sigma Investments LP lifted its stake in CION Investment by 2.8% in the third quarter. Two Sigma Investments LP now owns 237,742 shares of the company’s stock valued at $2,254,000 after buying an additional 6,489 shares in the last quarter. 32.01% of the stock is currently owned by institutional investors.

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.