Company Shares of Ocean Rig UDW Rally 5.28%

Ocean Rig UDW (NASDAQ:ORIG) has climbed 5.28% in the past week and advanced 34.69% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 6.54% and the outperformance has advanced to 33.46% for the last 4 weeks period.

Ocean Rig UDW (NASDAQ:ORIG): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $2.82 and $2.81 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $2.99. The buying momentum continued till the end and the stock did not give up its gains. It closed at $2.99, notching a gain of 8.73% for the day. The total traded volume was 2,005,305 . The stock had closed at $2.75 on the previous day.

The company shares have dropped -48.98% from its 1 Year high price. On Jun 23, 2015, the shares registered one year high at $5.96 and the one year low was seen on Feb 24, 2016. The 50-Day Moving Average price is $2.32 and the 200 Day Moving Average price is recorded at $1.50.

Many analysts have stated their opinion on the company shares. Equity analysts at the Brokerage firm Deutsche Bank maintains its rating on Ocean Rig UDW (NASDAQ:ORIG). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Deutsche Bank raises the price target from $3 per share to $4 per share. The rating by the firm was issued on May 24, 2016. Institutional Investors own 21.33% of Ocean Rig UDW shares.

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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