Short Interest in CION Investment Co. (NYSE:CION) Grows By 94.4%

CION Investment Co. (NYSE:CION) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 265,600 shares, a growth of 94.4% from the December 31st total of 136,600 shares. Based on an average trading volume of 249,400 shares, the short-interest ratio is currently 1.1 days. Approximately 0.5% of the shares of the company are sold short.

Institutional Investors Weigh In On CION Investment

Several hedge funds and other institutional investors have recently modified their holdings of CION. Concurrent Investment Advisors LLC grew its holdings in CION Investment by 2.9% during the third quarter. Concurrent Investment Advisors LLC now owns 41,729 shares of the company’s stock valued at $497,000 after purchasing an additional 1,190 shares during the period. Endowment Wealth Management Inc. raised its position in CION Investment by 2.6% in the 3rd quarter. Endowment Wealth Management Inc. now owns 58,330 shares of the company’s stock worth $694,000 after purchasing an additional 1,489 shares during the period. Beck Capital Management LLC raised its holdings in CION Investment by 6.5% during the 3rd quarter. Beck Capital Management LLC now owns 29,511 shares of the company’s stock valued at $351,000 after buying an additional 1,797 shares during the last quarter. Townsquare Capital LLC boosted its holdings in 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 in the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV lifted its stake in shares of CION Investment by 0.9% in the 3rd quarter. Acorn Financial Advisory Services Inc. ADV now owns 253,353 shares of the company’s stock valued at $3,015,000 after purchasing an additional 2,267 shares during the period. Institutional investors own 32.01% of the company’s stock.

CION Investment Stock Down 0.8 %

CION Investment stock traded down $0.09 during mid-day trading on Wednesday, hitting $11.41. 218,121 shares of the company’s stock were exchanged, compared to its average volume of 238,471. CION Investment has a fifty-two week low of $10.52 and a fifty-two week high of $12.69. The company’s 50 day simple moving average is $11.48 and its 200-day simple moving average is $11.76. The firm has a market capitalization of $607.99 million, a P/E ratio of 7.76 and a beta of 1.13.

CION Investment (NYSE:CION) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. CION Investment had a net margin of 31.21% and a return on equity of 11.49%. The firm had revenue of $59.63 million during the quarter, compared to the consensus estimate of $57.75 million. During the same period last year, the business posted $0.55 earnings per share. Research analysts expect that CION Investment will post 1.78 EPS for the current year.

CION Investment Announces Dividend

The firm also recently announced an annual dividend, which was paid on Monday, January 27th. Investors of record on Monday, December 30th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a dividend yield of 0.43%. CION Investment’s payout ratio is 97.96%.

Analysts Set New Price Targets

CION has been the subject of several recent analyst reports. Oppenheimer began coverage on CION Investment in a research note on Tuesday, October 8th. They set a “market perform” rating and a $13.00 target price for the company. Wells Fargo & Company dropped their price target on shares of CION Investment from $12.00 to $11.50 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th.

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.