CION Investment Co. (NYSE:CION – Get Rating) saw a significant decrease in short interest in the month of July. As of July 15th, there was short interest totalling 15,900 shares, a decrease of 81.6% from the June 30th total of 86,500 shares. Based on an average trading volume of 225,800 shares, the days-to-cover ratio is presently 0.1 days.
Insider Buying and Selling
In other CION Investment news, CFO Keith S. Franz bought 20,000 shares of the business’s stock in a transaction on Friday, May 13th. The shares were acquired at an average price of $10.50 per share, with a total value of $210,000.00. Following the transaction, the chief financial officer now owns 35,000 shares of the company’s stock, valued at approximately $367,500. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Robert A. Breakstone purchased 3,000 shares of CION Investment stock in a transaction dated Thursday, June 2nd. The stock was purchased at an average cost of $10.76 per share, with a total value of $32,280.00. Following the transaction, the director now owns 3,000 shares in the company, valued at approximately $32,280. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Keith S. Franz acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The shares were bought at an average cost of $10.50 per share, for a total transaction of $210,000.00. Following the transaction, the chief financial officer now owns 35,000 shares of the company’s stock, valued at $367,500. The disclosure for this purchase can be found here. Insiders acquired a total of 28,360 shares of company stock valued at $301,129 over the last three months. 0.25% of the stock is owned by company insiders.
Institutional Inflows and Outflows
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A number of large investors have recently bought and sold shares of the stock. Concourse Financial Group Securities Inc. purchased a new position in shares of CION Investment during the 4th quarter worth approximately $26,000. Lenox Wealth Advisors LLC boosted its position in shares of CION Investment by 100.1% during the first quarter. Lenox Wealth Advisors LLC now owns 2,757 shares of the company’s stock worth $34,000 after buying an additional 1,379 shares during the period. Focused Wealth Management Inc acquired a new stake in shares of CION Investment in the fourth quarter valued at $42,000. Steward Partners Investment Advisory LLC acquired a new position in CION Investment during the 4th quarter worth about $44,000. Finally, TAP Consulting LLC purchased a new position in CION Investment during the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 3.48% of the company’s stock.
CION Investment Stock Performance
Shares of NYSE CION traded up $0.22 during mid-day trading on Friday, reaching $9.34. The company’s stock had a trading volume of 301,272 shares, compared to its average volume of 172,730. CION Investment has a 1-year low of $7.83 and a 1-year high of $15.09. The stock has a market capitalization of $531.99 million and a P/E ratio of 8.41. The stock has a 50-day moving average of $9.26 and a two-hundred day moving average of $11.33.
CION Investment (NYSE:CION – Get Rating) last issued its earnings results on Thursday, May 12th. The company reported $0.34 EPS for the quarter. CION Investment had a net margin of 47.28% and a return on equity of 8.18%. The company had revenue of $41.68 million for the quarter.
Analysts Set New Price Targets
Separately, Wells Fargo & Company raised CION Investment from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $11.50 to $9.50 in a research report on Monday.
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.
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