Short Interest in CION Investment Co. (NYSE:CION) Grows By 50.3%

CION Investment Co. (NYSE:CION) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 349,400 shares, a growth of 50.3% from the February 28th total of 232,400 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily volume of 317,600 shares, the short-interest ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company reaffirmed an “underweight” rating and issued a $10.00 target price (down previously from $11.00) on shares of CION Investment in a report on Monday, March 17th.

CION Investment Stock Down 3.6 %

NYSE CION traded down $0.40 during trading hours on Friday, reaching $10.45. The company’s stock had a trading volume of 424,494 shares, compared to its average volume of 235,387. CION Investment has a 1 year low of $10.32 and a 1 year high of $12.71. The company has a market capitalization of $553.87 million, a price-to-earnings ratio of 7.11 and a beta of 1.11. The firm’s 50-day moving average price is $11.71 and its 200-day moving average price is $11.66.

CION Investment (NYSE:CION) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $87.91 million for the quarter, compared to the consensus estimate of $54.11 million. CION Investment had a net margin of 31.21% and a return on equity of 11.49%. Equities research analysts anticipate that CION Investment will post 1.78 EPS for the current fiscal year.

CION Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 13.79%. The ex-dividend date is Friday, March 28th. CION Investment’s dividend payout ratio (DPR) is presently 228.57%.

Institutional Investors Weigh In On CION Investment

Several large investors have recently made changes to their positions in the company. Founders Financial Alliance LLC boosted its stake in CION Investment by 5.3% during the fourth quarter. Founders Financial Alliance LLC now owns 21,769 shares of the company’s stock valued at $248,000 after buying an additional 1,086 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of CION Investment by 2.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 42,822 shares of the company’s stock valued at $488,000 after acquiring an additional 1,093 shares during the last quarter. Coppell Advisory Solutions LLC grew its holdings in shares of CION Investment by 11.1% in the fourth quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company’s stock valued at $123,000 after purchasing an additional 1,093 shares in the last quarter. Endowment Wealth Management Inc. increased its position in CION Investment by 2.6% in the fourth quarter. Endowment Wealth Management Inc. now owns 59,852 shares of the company’s stock worth $682,000 after purchasing an additional 1,522 shares during the last quarter. Finally, Beck Capital Management LLC raised its stake in CION Investment by 6.5% during the third quarter. Beck Capital Management LLC now owns 29,511 shares of the company’s stock valued at $351,000 after purchasing an additional 1,797 shares in the last quarter. 32.01% of the stock is owned by institutional investors.

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.