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Zacks Investment Research disclosed Ocean Rig UDW Inc. (NASDAQ:ORIG), hiking its price target to $1.00 earlier today

Just yesterday Ocean Rig UDW Inc. (NASDAQ:ORIG) traded -2.08% lower at $0.85. Ocean Rig UDW Inc.’s 50-day moving average is $0.81 and its 200-day moving average is $1.68. The last stock price is down -49.16% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same time period. 208,392 shares of ORIG traded hands, down from an average trading volume of 2,337,980

Reporting a potential upside of 0.18%, Zacks Investment Research increased the stock price target of Ocean Rig UDW Inc. (NASDAQ:ORIG) to $1.00

Previously on 08/16/2016, Deutsche Bank AG released a statement about Ocean Rig UDW Inc. (NASDAQ:ORIG) reduced the target price from $4.00 to $1.00. At the time, this indicated a possible upside of 0.16%.

Recent Performance Chart

Ocean Rig UDW Inc. (NASDAQ:ORIG)

Ocean Rig UDW Inc. has 52 week low of $0.66 and a 52 week high of $3.38 and has a market capitalization of $0.

In addition to Zacks Investment Research reporting its stock price target, a total of 8 brokerages have issued a ratings update on the company. The average stock price target is $1.94 with 0 brokerages rating the stock a strong buy, 1 brokerage rating the stock a buy, 2 brokerages rating the stock a hold, 4 brokerages rating the stock a underperform, and finally 1 brokerage rating the stock a sell.

Brief Synopsis On Ocean Rig UDW Inc. (NASDAQ:ORIG)

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. The Company's drilling units include Leiv Eiriksson, Ocean Rig Corcovado, Ocean Rig Poseidon, Ocean Rig Mykonos, Ocean Rig Mylos, Ocean Rig Skyros and Ocean Rig Athena. In addition, the Company, through its wholly owned subsidiary, provides supervisory management services including onshore management to its operating drilling units and drilling units under construction.

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