Analyst Rating Update on Ocean Rig UDW (ORIG)

Ocean Rig UDW (NASDAQ:ORIG) : 1 brokerage houses believe that Ocean Rig UDW (NASDAQ:ORIG) is a Strong Buy at current levels. 1 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Ocean Rig UDW (NASDAQ:ORIG). Zacks Investment Research suggests a Buy with a rank of 2. 3 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 5 Wall Street Analysts endorse the stock as a Sell with a rating of 3.8.

Ocean Rig UDW (NASDAQ:ORIG) has been rated by 4 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $4 and the lowest price target forecast is $1. The average forecast of all the analysts is $1.75 and the expected standard deviation is $1.55.

The shares have received a consensus rating of Sell for the current week Also, In a research note released to the investors, Deutsche Bank maintains its rating on Ocean Rig UDW (NASDAQ:ORIG).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Deutsche Bank raises the new price target from $3 per share to $4 per share. The rating by the firm was issued on May 24, 2016.

Ocean Rig UDW (NASDAQ:ORIG): stock turned positive on Tuesday. Though the stock opened at $2.49, the bulls momentum made the stock top out at $2.53 level for the day. The stock recorded a low of $2.41 and closed the trading day at $2.44, in the green by 3.39%. The total traded volume for the day was 2,485,465. The stock had closed at $2.36 in the previous days trading.

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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