Orchid Island Capital (NYSE:ORC) Stock Rating Upgraded by Wall Street Zen

Orchid Island Capital (NYSE:ORC) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Orchid Island Capital in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce”.

Orchid Island Capital Stock Down 0.8%

NYSE:ORC opened at $7.26 on Friday. The stock has a market cap of $1.10 billion, a P/E ratio of 14.81 and a beta of 1.53. The firm’s fifty day simple moving average is $7.19 and its 200 day simple moving average is $7.10. Orchid Island Capital has a twelve month low of $5.68 and a twelve month high of $9.01.

Orchid Island Capital (NYSE:ORC) last released its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. The company had revenue of $26.92 million during the quarter, compared to the consensus estimate of $25.33 million. On average, analysts expect that Orchid Island Capital will post 0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Orchid Island Capital

A number of hedge funds have recently bought and sold shares of ORC. Wealth Enhancement Advisory Services LLC bought a new position in Orchid Island Capital in the 1st quarter worth about $92,000. Bank of New York Mellon Corp boosted its stake in Orchid Island Capital by 15.2% in the 1st quarter. Bank of New York Mellon Corp now owns 204,911 shares of the real estate investment trust’s stock worth $1,541,000 after purchasing an additional 27,017 shares in the last quarter. Penserra Capital Management LLC boosted its stake in Orchid Island Capital by 21.0% in the 1st quarter. Penserra Capital Management LLC now owns 141,543 shares of the real estate investment trust’s stock worth $1,064,000 after purchasing an additional 24,562 shares in the last quarter. Rogco LP bought a new position in Orchid Island Capital in the 1st quarter worth about $28,000. Finally, Financial Gravity Asset Management Inc. bought a new position in Orchid Island Capital in the 1st quarter worth about $647,000. Institutional investors own 32.74% of the company’s stock.

About Orchid Island Capital

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company’s RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.