CION Investment (NYSE:CION) Price Target Cut to $11.50 by Analysts at Wells Fargo & Company

CION Investment (NYSE:CION) had its price target decreased by stock analysts at Wells Fargo & Company from $12.00 to $11.50 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential downside of 3.28% from the stock’s current price.

Separately, Oppenheimer assumed coverage on CION Investment in a report on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 price objective on the stock.

CION Investment Stock Performance

Shares of NYSE CION traded down $0.08 during trading on Tuesday, hitting $11.89. 49,672 shares of the company were exchanged, compared to its average volume of 227,030. CION Investment has a 12-month low of $9.77 and a 12-month high of $12.69. The company has a fifty day moving average price of $11.93 and a 200-day moving average price of $12.00. The firm has a market capitalization of $637.17 million, a PE ratio of 4.87 and a beta of 1.18.

CION Investment (NYSE:CION) last issued its 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 company had revenue of $61.36 million for the quarter. Research analysts anticipate that CION Investment will post 1.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CION Investment

Hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its holdings in CION Investment by 7.6% during the 1st quarter. Van ECK Associates Corp now owns 1,069,799 shares of the company’s stock valued at $11,768,000 after acquiring an additional 75,859 shares during the period. Acadian Asset Management LLC boosted its stake in shares of CION Investment by 32.5% in the second quarter. Acadian Asset Management LLC now owns 695,609 shares of the company’s stock valued at $8,427,000 after purchasing an additional 170,635 shares during the period. Cetera Investment Advisers grew its holdings in shares of CION Investment by 2,340.1% in the first quarter. Cetera Investment Advisers now owns 524,131 shares of the company’s stock valued at $5,765,000 after purchasing an additional 502,651 shares in the last quarter. Diversify Wealth Management LLC purchased a new stake in CION Investment during the 2nd quarter worth approximately $2,250,000. Finally, Strong Tower Advisory Services lifted its holdings in CION Investment by 1,469.2% during the 3rd quarter. Strong Tower Advisory Services now owns 196,199 shares of the company’s stock worth $2,335,000 after buying an additional 183,696 shares in the last quarter. Hedge funds and other institutional investors own 32.01% of the company’s stock.

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.