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

CION Investment (NYSE:CION) had its price target reduced by equities researchers at Wells Fargo & Company from $12.00 to $11.50 in a report issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential downside of 2.29% from the stock’s previous close.

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

CION Investment Price Performance

CION stock opened at $11.77 on Tuesday. CION Investment has a 12 month low of $9.81 and a 12 month high of $12.69. The firm has a market capitalization of $629.15 million, a PE ratio of 5.01 and a beta of 1.18. The company’s 50 day simple moving average is $11.91 and its 200-day simple moving average is $12.01.

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

Hedge Funds Weigh In On CION Investment

Large investors have recently bought and sold shares of the stock. Van ECK Associates Corp raised its position in shares of CION Investment by 7.6% in the 1st quarter. Van ECK Associates Corp now owns 1,069,799 shares of the company’s stock worth $11,768,000 after buying an additional 75,859 shares during the period. Acadian Asset Management LLC grew its holdings in shares of CION Investment by 32.5% during the 2nd quarter. Acadian Asset Management LLC now owns 695,609 shares of the company’s stock worth $8,427,000 after purchasing an additional 170,635 shares during the period. Cetera Investment Advisers increased its position in CION Investment by 2,340.1% during the 1st quarter. Cetera Investment Advisers now owns 524,131 shares of the company’s stock worth $5,765,000 after purchasing an additional 502,651 shares in the last quarter. Diversify Wealth Management LLC purchased a new position in CION Investment in the second quarter valued at approximately $2,250,000. Finally, Strong Tower Advisory Services lifted its position in CION Investment by 1,469.2% during the third quarter. Strong Tower Advisory Services now owns 196,199 shares of the company’s stock valued at $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.

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.