Orchid Island Capital (NYSE:ORC) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Wednesday.
Separately, Zacks Investment Research downgraded Orchid Island Capital from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $11.00.
Orchid Island Capital (ORC) traded up $0.08 on Wednesday, reaching $9.12. The company’s stock had a trading volume of 798,700 shares, compared to its average volume of 1,212,167. The stock has a market cap of $418.89, a P/E ratio of -16.00 and a beta of 0.49. Orchid Island Capital has a 12-month low of $9.03 and a 12-month high of $12.60.
Institutional investors and hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new stake in Orchid Island Capital during the 2nd quarter valued at approximately $101,000. Sei Investments Co. purchased a new position in shares of Orchid Island Capital during the 3rd quarter worth approximately $124,000. Voya Investment Management LLC purchased a new position in shares of Orchid Island Capital during the 2nd quarter worth approximately $145,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Orchid Island Capital during the 3rd quarter worth approximately $153,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Orchid Island Capital during the 2nd quarter worth approximately $163,000. 27.14% of the stock is owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY NOTICE: “Orchid Island Capital (ORC) Stock Rating Upgraded by ValuEngine” was originally reported by Transcript Daily and is owned by of Transcript Daily. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://transcriptdaily.com/2018/01/05/orchid-island-capital-orc-stock-rating-upgraded-by-valuengine.html.
About Orchid Island Capital
Orchid Island Capital, Inc is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide attractive risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions.
Receive News & Ratings for Orchid Island Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orchid Island Capital and related companies with MarketBeat.com's FREE daily email newsletter.