Ocean Rig UDW (ORIG) has been under a strong bear grip, hence the stock is down -18.61% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 3.41% in the past 1 week. The stock has risen by 4.96% in the past week indicating that the buyers are active at lower levels, but the stock is down -15.05% in the past 4 weeks. The stock has recorded a 20-day Moving Average of 3.93% and the 50-Day Moving Average is 3.82%.
Ocean Rig UDW (NASDAQ:ORIG): The stock opened at $2.69 on Friday but the bulls could not build on the opening and the stock topped out at $2.69 for the day. The stock traded down to $2.50 during the day, due to lack of any buying support eventually closed down at $2.54 with a loss of -4.51% for the day. The stock had closed at $2.66 on the previous day. The total traded volume was 2,144,796 shares.
Institutional Investors own 21.42% 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.