Ocean Rig UDW (ORIG) : 2 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Ocean Rig UDW (ORIG). Zacks Investment Research suggests a Hold with a rank of 3. 2 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 4 Wall Street Analysts endorse the stock as a Sell with a rating of 4.
Ocean Rig UDW (ORIG) : 3 investment research analysts covering Ocean Rig UDW (ORIG) have an average price target of $1.17 for the near short term. The highest target price given by the Brokerage Firm to the stock is $2 and the lowest target is $1 for the short term. Analysts expect the variance to be within $0.29 of the average price.
Also, Barclays terminates their rating on the shares of Ocean Rig UDW (NASDAQ:ORIG). Earlier, the shares were rated a Underweight by the brokerage firm. The rating by the firm was issued on August 18, 2016.
Ocean Rig UDW (NASDAQ:ORIG): After opening at $0.735, the stock dipped to an intraday low of $0.7295 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $0.78 and the buying power remained strong till the end. The stock closed at $0.7586 for the day, a gain of 3.99% for the day session. The total traded volume was 713,944. The stocks close on the previous trading day was $0.7295.
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.