CION Investment (NYSE:CION) Now covered by Oppenheimer

Research analysts at Oppenheimer initiated coverage on the stock CION Investment (NYSE:CION – Get a Free Report) in a report issued on Tuesday, reports Benzinga. The brokerage set a “market perform” rating and a $13.00 target price on the stock. Oppenheimer’s price objective indicates a potential upside of 10.78% from the stock’s current price.

CION investment price performance

Shares of NYSE CION opened at $11.74 on Tuesday. CION Investment has a fifty-two week low of $9.65 and a fifty-two week high of $12.69. The firm has a market cap of $628.87 million, a P/E ratio of 4.81 and a beta of 1.18. The company’s 50-day simple moving average is $11.93, and its 200-day simple moving average is $11.91.

CION Investment (NYSE:CION – Get Free Report ) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter. The company 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%.

Hedge funds influence CION investment

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. raised its stake in CION Investment by 42.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 295,387 shares of the company’s stock worth $3,249,000 after buying an additional 87,382 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of CION Investment by 7.6% in the first quarter. Van ECK Associates Corp now owns 1,069,799 shares of the company’s stock worth $11,768,000 after acquiring an additional 75,859 shares during the period. Acadian Asset Management LLC lifted its position in CION Investment by 32.5% in the second quarter. Acadian Asset Management LLC now owns 695,609 shares of the company’s stock valued at $8,427,000 after acquiring an additional 170,635 shares during the last quarter. Cetera Investment Advisers raised its stake in CION Investment by 2,340.1% in the first 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 during the period. Finally, Diversify Wealth Management LLC bought a new position in CION Investment during the second quarter valued at approximately $2,250,000. Institutional investors and hedge funds own 32.01% of the company’s shares.

About CION Investment

(Get a free report)

CION Investment Corporation is a business development company. It specializes in investing in senior secured loans, including unit tranche loans, first lien loans, 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.

Further reading

Get news and reviews for CION Investment Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for CION Investment and related companies with MarketBeat.com ‘s FREE daily email newsletter.