Ocean Rig UDW (ORIG): Price Target and June Short Interest Disclosure

Ocean Rig UDW (ORIG) : Currently there are 4 street experts covering Ocean Rig UDW (ORIG) stock. The most bullish and bearish price target for the stock is $4 and $1 respectively for the short term. The average price target of all the analysts comes to $1.75. The estimated standard deviation from the target is $1.55.

Ocean Rig UDW (ORIG), A rise of 1,287,796 shares or 21.8% was seen in the short interest of Ocean Rig UDW Inc.. Even as the interest increased from 5,897,748 shares on June 15,2016 to 7,185,544 shares on June 30,2016, the days to cover came in at 3. The updated interest stood at 17% of the stocks floats. The stock has seen an average daily volume of 2,270,291 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, In the latest statement by the brokerage house, Deutsche Bank maintains its outlook on Ocean Rig UDW (NASDAQ:ORIG). The current rating of the shares is Buy, according to the research report released by the firm. The brokerage firm raises the price target from $3 per share to $4 per share. The rating by the firm was issued on May 24, 2016.


Ocean Rig UDW (NASDAQ:ORIG): stock turned positive on Thursday. Though the stock opened at $2.66, the bulls momentum made the stock top out at $2.7 level for the day. The stock recorded a low of $2.59 and closed the trading day at $2.66, in the green by 0.76%. The total traded volume for the day was 2,643,657. The stock had closed at $2.64 in the previous days trading.

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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