Ocean Rig UDW (ORIG) : Analyst Rating Update

Ocean Rig UDW (ORIG) : 1 brokerage houses believe that Ocean Rig UDW (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 (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 (ORIG) : 4 Wall Street analysts covering Ocean Rig UDW (ORIG) believe that the average level the stock could reach for the short term is $1.75. The maximum price target given is $4 and the minimum target for short term is around $1, hence the standard deviation is calculated at $1.55.

Ocean Rig UDW (NASDAQ:ORIG): The stock opened at $2.26 on Wednesday but the bulls could not build on the opening and the stock topped out at $2.42 for the day. The stock traded down to $2.25 during the day, due to lack of any buying support eventually closed down at $2.29 with a loss of -3.38% for the day. The stock had closed at $2.37 on the previous day. The total traded volume was 2,513,716 shares.

Also, Major Brokerage house, Deutsche Bank maintains its ratings on Ocean Rig UDW (NASDAQ:ORIG). In the latest research report, Deutsche Bank raises the target price from $3 per share to $4 per share. According to the latest information available, the shares are now rated Buy by the analysts at the agency. The rating by the firm was issued on May 24, 2016. The company shares have dropped -49.68% from its 1 Year high price. On Jul 14, 2015, the shares registered one year high at $4.99 and the one year low was seen on Feb 24, 2016. The 50-Day Moving Average price is $2.55 and the 200 Day Moving Average price is recorded at $1.59.

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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