Ocean Rig UDW (ORIG) Shares are Up 8.79%

Ocean Rig UDW (ORIG) : Traders are bullish on Ocean Rig UDW (ORIG) as it has outperformed the S&P 500 by a wide margin of 9.95% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 8.61%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 8.79% in the last 1 week, and is up 9.36% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 7.83% and the 50-Day Moving Average is 29.3%.The 200 Day SMA reached 45.31%


Ocean Rig UDW (NASDAQ:ORIG): After opening at $0.84, the stock dipped to an intraday low of $0.8152 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $0.8599 and the buying power remained strong till the end. The stock closed at $0.84 for the day, a gain of 0.72% for the day session. The total traded volume was 903,858. The stocks close on the previous trading day was $0.84.

Ocean Rig UDW (ORIG) : The consensus price target for Ocean Rig UDW (ORIG) is $1.17 for the short term with a standard deviation of $0.29. The most optimist securities analyst among the 3 who monitor the stock believes that the stock can reach $2, however, the pessimist price target for the company is $1.

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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