Orchid Island Capital (NYSE:ORC) Downgraded by Wall Street Zen to “Sell”

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

A number of other equities analysts also recently weighed in on the stock. Compass Point began coverage on shares of Orchid Island Capital in a research note on Monday, December 15th. They set a “neutral” rating and a $7.50 target price for the company. Weiss Ratings raised Orchid Island Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 26th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.50.

Orchid Island Capital Stock Performance

Shares of ORC stock opened at $6.88 on Friday. Orchid Island Capital has a 12 month low of $5.68 and a 12 month high of $8.40. The stock has a market cap of $1.34 billion, a PE ratio of 6.61 and a beta of 1.67. The company has a current ratio of 509.34, a quick ratio of 509.34 and a debt-to-equity ratio of 0.09. The company’s fifty day moving average price is $7.55 and its 200-day moving average price is $7.38.

Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $124.78 million during the quarter, compared to the consensus estimate of $35.74 million. On average, equities analysts expect that Orchid Island Capital will post 0.37 EPS for the current fiscal year.

Institutional Trading of Orchid Island Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC purchased a new position in Orchid Island Capital in the first quarter worth about $84,000. Millennium Management LLC increased its position in shares of Orchid Island Capital by 234.9% during the first quarter. Millennium Management LLC now owns 1,036,387 shares of the real estate investment trust’s stock valued at $7,794,000 after acquiring an additional 726,907 shares in the last quarter. Strs Ohio bought a new stake in shares of Orchid Island Capital during the first quarter valued at approximately $111,000. Envestnet Asset Management Inc. purchased a new position in Orchid Island Capital in the 2nd quarter worth approximately $75,000. Finally, Geode Capital Management LLC raised its holdings in Orchid Island Capital by 25.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,584,534 shares of the real estate investment trust’s stock worth $18,120,000 after acquiring an additional 516,261 shares during the last quarter. 32.74% of the stock is currently owned by institutional investors.

About Orchid Island Capital

Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage‐backed securities (RMBS), with a primary focus on mortgage pass‐through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company’s principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.