CION Investment (NYSE:CION) Hits New 52-Week Low – What’s Next?

CION Investment Co. (NYSE:CION)’s share price hit a new 52-week low on Friday . The company traded as low as $9.52 and last traded at $9.69, with a volume of 212578 shares changing hands. The stock had previously closed at $10.20.

Wall Street Analysts Forecast Growth

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

CION Investment Stock Down 6.4 %

The firm has a market capitalization of $506.41 million, a price-to-earnings ratio of 6.47 and a beta of 1.11. The company’s fifty day moving average is $11.62 and its two-hundred day moving average is $11.63.

CION Investment (NYSE:CION) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The firm had revenue of $87.91 million for the quarter, compared to analyst estimates of $54.11 million. CION Investment had a net margin of 31.21% and a return on equity of 11.49%. On average, equities research analysts expect that CION Investment Co. will post 1.78 EPS for the current year.

CION Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 15.08%. CION Investment’s payout ratio is 228.57%.

Hedge Funds Weigh In On CION Investment

Several institutional investors have recently modified their holdings of the business. Founders Financial Alliance LLC increased its holdings in CION Investment by 5.3% during the 4th quarter. Founders Financial Alliance LLC now owns 21,769 shares of the company’s stock worth $248,000 after purchasing an additional 1,086 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in CION Investment by 2.6% in the 4th quarter. Concurrent Investment Advisors LLC now owns 42,822 shares of the company’s stock valued at $488,000 after buying an additional 1,093 shares during the last quarter. Coppell Advisory Solutions LLC boosted its stake in shares of CION Investment by 11.1% during the 4th quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company’s stock worth $123,000 after buying an additional 1,093 shares during the last quarter. Endowment Wealth Management Inc. grew its holdings in shares of CION Investment by 2.6% in the 4th quarter. Endowment Wealth Management Inc. now owns 59,852 shares of the company’s stock valued at $682,000 after acquiring an additional 1,522 shares in the last quarter. Finally, Townsquare Capital LLC increased its position in shares of CION Investment by 7.0% in the third quarter. Townsquare Capital LLC now owns 31,438 shares of the company’s stock valued at $374,000 after acquiring an additional 2,061 shares during the last quarter. 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.