Ocean Rig UDW June 15th Short Interest Update

Ocean Rig UDW (NASDAQ:ORIG) has seen a rise of 236,940 shares or 4.2% in the short interest. The remaining shorts are 14% of the total floated shares. The net short interest, as on June 15,2016, stood at 5,897,748 shares and the stocks days to cover will be 2 by factoring in the average per day volume of 2,450,579 shares. On May 31,2016, 5,660,808 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Ocean Rig UDW (NASDAQ:ORIG): The stock opened at $2.84 on Friday but the bulls could not build on the opening and the stock topped out at $3.00 for the day. The stock traded down to $2.76 during the day, due to lack of any buying support eventually closed down at $2.79 with a loss of -8.52% for the day. The stock had closed at $3.05 on the previous day. The total traded volume was 3,302,404 shares.

The company shares have dropped -48.14% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $5.55 and the one year low was seen on Feb 24, 2016. The 50-Day Moving Average price is $2.45 and the 200 Day Moving Average price is recorded at $1.55.

Ocean Rig UDW (NASDAQ:ORIG) has tumbled 6.69% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 21.83% in the last four weeks. The stocks have underperformed the S&P 500 by 5.14% during the past week but Ocean Rig UDW (NASDAQ:ORIG) it has outperformed the index in 4 weeks by 25.52%.

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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