Short-term stake in Orchid Island Capital, Inc. (NYSE:ORC) drops 19.6%
Orchid Island Capital, Inc. (NYSE:ORC – Get Rating) benefited from a significant drop in short-term interest rates in May. As of May 15, there was short interest totaling 11,620,000 shares, down 19.6% from the April 30 total of 14,450,000 shares. Based on an average daily trading volume of 3,730,000 shares, the short interest ratio is currently 3.1 days.
ORC traded down $0.07 during Tuesday’s trading, hitting $3.12. The company’s shares had a trading volume of 89,352 shares, compared to an average trading volume of 2,913,011 shares. The company has a market capitalization of $552.61 million, a price-earnings ratio of -2.86 and a beta of 1.33. The company’s fifty-day moving average price is $3.05 and its 200-day moving average price is $3.75. Orchid Island Capital has a 52-week low of $2.61 and a 52-week high of $5.86.
The company also recently announced a monthly dividend, which will be paid on Tuesday, June 28. Shareholders of record on Tuesday, May 31 will receive a dividend of $0.045. This represents an annualized dividend of $0.54 and a dividend yield of 17.31%. The ex-dividend date is Friday, May 27. Orchid Island Capital’s dividend payout ratio (DPR) is currently -50.00%.
Several brokerages have recently commented on ORC. Jonestrading downgraded shares of Orchid Island Capital from a “buy” rating to a “hold” rating in a Friday, February 25 report. Zacks Investment Research upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a Tuesday, May 3 research report. Finally, StockNews.com began covering Orchid Island Capital in a research report on Thursday, March 31. They put a “sell” mark on the stock. One research analyst has rated the stock with a sell rating and three have issued a hold rating for the company’s stock. According to MarketBeat, Orchid Island Capital has an average rating of “Hold” and a consensus price target of $4.25.
If you’re new to trading, you’ve probably heard the wrong word about options, that they’re risky, unpredictable, or difficult.
And it couldn’t be more wrong! With the Hughes Optioneering strategy, you will soon learn that the safest option for new accounts is the options themselves!
A number of hedge funds have recently increased or reduced their holdings in the stock. ARGI Investment Services LLC purchased a new stock position in Orchid Island Capital during Q1 for approximately $34,000. Point72 Hong Kong Ltd bought a new stake in shares of Orchid Island Capital in Q4 for a value of approximately $38,000. Avidian Wealth Solutions LLC acquired a new position in Orchid Island Capital in Q1 worth approximately $38,000. Atria Wealth Solutions Inc. acquired a new stake in Orchid Island Capital in the first quarter worth $38,000. Finally, Aigen Investment Management LP purchased a new equity stake in Orchid Island Capital in Q1 worth approximately $40,000. 21.81% of the shares are currently held by institutional investors and hedge funds.
About Orchid Island Capital (Get a rating)
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 mortgages, referred to as Agency RMBS. Its portfolio includes traditional transfer agency RMBS, such as mortgage transfer certificates and secured mortgage bonds; and structured agency RMBS comprising interest only securities, inverse interest only securities and principal only securities.
Featured articles
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Orchid Island Capital right now?
Before you consider Orchid Island Capital, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Orchid Island Capital didn’t make the list.
While Orchid Island Capital currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here
.jpg)
