Brokerage Firm Rating Update on Ocean Rig UDW (ORIG)

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.


The shares have received a consensus rating of Sell for the current week Also, In the latest statement by the brokerage house, Barclays terminates its outlook on Ocean Rig UDW (NASDAQ:ORIG). Previously, the company had a rating of Underweight. The rating by the firm was issued on August 18, 2016.

Ocean Rig UDW (NASDAQ:ORIG): stock was range-bound between the intraday low of $0.76 and the intraday high of $0.795 after having opened at $0.795 on Wednesdays session. The stock finally closed in the red at $0.795, a loss of -1.90%. The stock remained in the red for the whole trading day. The total traded volume was 1,161,529 shares. The stock failed to cross $0.795 in Wednesdays trading. The stocks closing price on Thursday was $0.7849.

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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