Wells Fargo & Company Lowers CION Investment (NYSE:CION) Price Target to $11.50

CION Investment (NYSE:CION) had its price target lowered by Wells Fargo & Company from $12.00 to $11.50 in a research report report published on Tuesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Separately, Oppenheimer initiated coverage on shares of CION Investment in a report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 target price on the stock.

CION Investment Price Performance

CION opened at $11.65 on Tuesday. The company has a market capitalization of $622.69 million, a PE ratio of 4.96 and a beta of 1.18. The business has a fifty day simple moving average of $11.89 and a 200 day simple moving average of $12.01. CION Investment has a 1 year low of $10.05 and a 1 year high of $12.69.

CION Investment (NYSE:CION) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter. CION Investment had a net margin of 48.50% and a return on equity of 12.39%. The business had revenue of $61.36 million for the quarter. Equities analysts anticipate that CION Investment will post 1.77 earnings per share for the current fiscal year.

CION Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.44 annualized dividend and a yield of 12.36%. CION Investment’s dividend payout ratio is 61.28%.

Hedge Funds Weigh In On CION Investment

Several hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in shares of CION Investment during the 1st quarter worth approximately $37,000. Focused Wealth Management Inc bought a new position in shares of CION Investment in the 3rd quarter valued at $120,000. First Heartland Consultants Inc. acquired a new position in shares of CION Investment during the 2nd quarter worth $145,000. Fullcircle Wealth LLC bought a new stake in shares of CION Investment during the 2nd quarter worth $156,000. Finally, Diversify Advisory Services LLC acquired a new stake in CION Investment in the first quarter valued at about $145,000. 32.01% of the stock is owned by institutional investors.

CION Investment Company Profile

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.