Orchid Island Capital (NYSE:ORC) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• Orchid Island Capital (NYSE: ORC) was downgraded by Wall Street Zen from "hold" to "sell", and Weiss Ratings also cut it from "hold (c-)" to "sell (d+)"
• In the latest quarter ORC reported EPS of $0.26 (meeting consensus) but showed a revenue figure of ($12.56) million versus analysts' expectations of $33.03 million, a significant shortfall.
• Shares opened at $6.94 (12‑month range $6.62–$8.40) with a market cap of about $1.39 billion, and institutional ownership is roughly 32.7% after notable buying by Millennium Management.

Orchid Island Capital (NYSE:ORC - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Tuesday.

Separately, Weiss Ratings downgraded Orchid Island Capital from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, April 6th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $7.50.

Orchid Island Capital Stock Performance

Shares of ORC stock opened at $6.94 on Tuesday. The company has a current ratio of 509.34, a quick ratio of 509.34 and a debt-to-equity ratio of 0.26. The company has a market cap of $1.39 billion, a PE ratio of 9.25 and a beta of 1.57. Orchid Island Capital has a 12-month low of $6.62 and a 12-month high of $8.40. The business's fifty day simple moving average is $7.18 and its 200-day simple moving average is $7.38.

Orchid Island Capital (NYSE:ORC - Get Free Report) last released its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The company had revenue of ($12.56) million for the quarter, compared to analysts' expectations of $33.03 million.

Institutional Trading of Orchid Island Capital

A number of large investors have recently modified their holdings of ORC. AQR Capital Management LLC acquired a new position in shares of Orchid Island Capital during the first quarter worth about $84,000. Millennium Management LLC lifted its stake in Orchid Island Capital by 234.9% in the first quarter. Millennium Management LLC now owns 1,036,387 shares of the real estate investment trust's stock worth $7,794,000 after acquiring an additional 726,907 shares during the last quarter. Strs Ohio purchased a new position in Orchid Island Capital in the first quarter worth approximately $111,000. Envestnet Asset Management Inc. acquired a new position in Orchid Island Capital during the 2nd quarter worth approximately $75,000. Finally, Legal & General Group Plc grew its holdings in Orchid Island Capital by 1,421.3% during the 2nd quarter. Legal & General Group Plc now owns 100,817 shares of the real estate investment trust's stock worth $707,000 after acquiring an additional 94,190 shares in the last quarter. Hedge funds and other institutional investors own 32.74% of the company's stock.

Orchid Island Capital Company Profile

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.

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