Ocean Rig UDW Inc. (NASDAQ:ORIG) has earned a consensus recommendation of “Hold” from the twelve research firms that are covering the firm. Six analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $1.10.

ORIG has been the subject of several research reports. Zacks Investment Research lowered Ocean Rig UDW from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Deutsche Bank AG lowered Ocean Rig UDW from a “buy” rating to a “hold” rating and reduced their target price for the company from $4.00 to $1.00 in a report on Tuesday, August 16th.

Shares of Ocean Rig UDW (NASDAQ:ORIG) opened at 1.35 on Friday. The stock has a 50 day moving average price of $0.96 and a 200 day moving average price of $1.64. Ocean Rig UDW has a 12 month low of $0.66 and a 12 month high of $3.38.

A number of hedge funds have recently added to or reduced their stakes in ORIG. Bridgeway Capital Management Inc. purchased a new stake in Ocean Rig UDW during the second quarter worth about $1,119,000. Parametric Portfolio Associates LLC purchased a new stake in Ocean Rig UDW during the second quarter worth about $137,000. KCG Holdings Inc. purchased a new stake in Ocean Rig UDW during the second quarter worth about $128,000. Spark Investment Management LLC boosted its stake in Ocean Rig UDW by 26.7% in the second quarter. Spark Investment Management LLC now owns 1,815,600 shares of the company’s stock worth $4,502,000 after buying an additional 382,500 shares during the last quarter. Finally, Deere & Co. purchased a new stake in Ocean Rig UDW during the second quarter worth about $351,000. 17.62% of the stock is owned by hedge funds and other institutional investors.

Ocean Rig UDW Company Profile

Ocean Rig UDW Inc is a Cyprus-based offshore drilling contractor that provides oilfield services for oil and gas exploration, development and production drilling, and specializes in the ultra-deepwater and harsh-environment segment of the drilling industry. The Company owns and operates approximately 13 offshore ultra deepwater drilling units, comprising of ultra deepwater semisubmersible drilling rigs and ultra deepwater drill-ships.

5 Day Chart for NASDAQ:ORIG

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