CION Investment Co. (NYSE:CION) Sees Large Growth in Short Interest

CION Investment Co. (NYSE:CION) was the recipient of a large growth in short interest in 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 short sold. Based on an average daily volume of 317,600 shares, the short-interest ratio is currently 1.1 days.

Analysts Set New Price Targets

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

CION Investment Stock Performance

Shares of NYSE CION traded down $0.07 during midday trading on Monday, reaching $10.39. The stock had a trading volume of 537,425 shares, compared to its average volume of 236,591. CION Investment has a twelve month low of $10.16 and a twelve month high of $12.71. The company’s 50 day moving average price is $11.71 and its 200 day moving average price is $11.66. The firm has a market cap of $550.69 million, a price-to-earnings ratio of 7.06 and a beta of 1.11.

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

CION Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.44 annualized dividend and a dividend yield of 13.87%. CION Investment’s payout ratio is presently 228.57%.

Hedge Funds Weigh In On CION Investment

Institutional investors have recently bought and sold shares of the stock. Ameriflex Group Inc. bought a new position in CION Investment during the fourth quarter valued at $55,000. Golden State Wealth Management LLC acquired a new stake in shares of CION Investment in the 4th quarter worth $96,000. Aquatic Capital Management LLC acquired a new position in CION Investment during the 4th quarter valued at approximately $103,000. Quantbot Technologies LP purchased a new stake in shares of CION Investment in the third quarter worth about $104,000. Finally, Coppell Advisory Solutions LLC grew its stake in CION Investment by 11.1% in the 4th quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company’s stock valued at $123,000 after acquiring an additional 1,093 shares during the period. 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.