Ocean Rig UDW (ORIG) Shares Slide -13.33%

Ocean Rig UDW (ORIG) : During the past 4 weeks, traders have been relatively bearish on Ocean Rig UDW (ORIG), hence the stock is down -27.44% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -13.28% relative to the S&P 500. The 4-week change in the price of the stock is -25% and the stock has fallen -13.33% in the past 1 week.

The stock has recorded a 20-day Moving Average of 18.26% and the 50-Day Moving Average is 22.02%. Ocean Rig UDW LLC has dropped 7.14% during the last 3-month period . Year-to-Date the stock performance stands at 19.63%.


Ocean Rig UDW (NASDAQ:ORIG): On Fridays trading session , Opening price of the stock was $2.01 with an intraday high of $2.0209. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $1.91. However, the stock managed to close at $1.95, a loss of 2.99% for the day. On the previous day, the stock had closed at $2.01. The total traded volume of the day was 2,257,062 shares.

Also, Equity Analysts at the Deutsche Bank maintains the rating on Ocean Rig UDW (NASDAQ:ORIG). The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency raises the price target from $3 per share to $4 per share. The rating by the firm was issued on May 24, 2016.

Ocean Rig UDW Inc. is a Marshall Islands-registered international offshore drilling contractor. The Company provides oilfield services for offshore oil and gas exploration, development and production drilling. It specializes in the ultra-deepwater and harsh-environment segment of the offshore drilling industry. Ocean Rig owns and operates two ultra-deepwater semi-submersible offshore drilling rigs, the Leiv Eiriksson and the Eirik Raude, both based on the Companys Bingo 9000 design. In addition, in January 2011, the Company took delivery of the new build drillship Ocean Rig Corcovado from Samsung Heavy Industries in Korea. As of December 22, 2010, Ocean Rig UDW Inc. was majority owned by DryShips Inc., which held a 78% stake in the Company.

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