Orchid Island Capital (ORC) Stock Rating Upgraded by ValuEngine

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.

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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.

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