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Company Shares of Ocean Rig UDW Inc. Drops by -10.71%

Ocean Rig UDW Inc.

Ocean Rig UDW Inc. (NASDAQ:ORIG) has dropped 10.71% during the past week, however, the bigger picture is still very bullish; the shares have posted positive gains of 3.47% in the last 4 weeks. The counter has underperformed the S&P 500 by 9.92% during the past week but Ocean Rig UDW Inc. (NASDAQ:ORIG) has outperformed the index in 4 weeks by 3.52%.

The company shares have dropped -56.49% from its 1 Year high price. On Jun 23, 2014, the shares registered one year high at $19.97 and the one year low was seen on Mar 16, 2015. The 50-Day Moving Average price is $7.79 and the 200 Day Moving Average price is recorded at $8.58.

Ocean Rig UDW Inc. (NASDAQ:ORIG) witnessed a decline in the market cap on Friday as its shares dropped 2.39% or 0.19 points. After the session commenced at $7.94, the stock reached the higher end at $7.96 while it hit a low of $7.63. With the volume soaring to 2,576,820 shares, the last trade was called at $7.75. The company has a 52-week high of $19.97. The company has a market cap of $1,025 million and there are 132,317,000 shares in outstanding. The 52-week low of the share price is $5.91.

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.

The Original Posted by The Daily Rover