Ocean Rig UDW Inc. (NASDAQ:ORIG) shares were up 2.6% during mid-day trading on Thursday . The company traded as high as $2.44 and last traded at $2.35, with a volume of 1,599,970 shares trading hands. The stock had previously closed at $2.29.

A number of research analysts have recently issued reports on ORIG shares. Deutsche Bank AG dropped their target price on Ocean Rig UDW from $9.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, March 11th. Zacks Investment Research raised Ocean Rig UDW from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a report on Saturday, April 30th. Evercore ISI reissued a “hold” rating on shares of Ocean Rig UDW in a report on Thursday, June 30th. Simmons lowered Ocean Rig UDW from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $1.00 to $0.65 in a report on Friday, March 11th. Finally, Piper Jaffray Cos. lowered Ocean Rig UDW from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $1.00 to $0.65 in a report on Friday, March 11th. Six research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $2.49.

The company has a 50 day moving average price of $2.59 and a 200-day moving average price of $1.61.

Ocean Rig UDW (NASDAQ:ORIG) last released its earnings results on Thursday, May 19th. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.45. The firm had revenue of $508 million for the quarter, compared to the consensus estimate of $424.66 million. During the same period in the prior year, the business earned $0.31 EPS. The company’s quarterly revenue was up 26.3% on a year-over-year basis. Equities analysts expect that Ocean Rig UDW Inc. will post $2.62 earnings per share for the current year.

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.

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