Ocean Rig UDW Inc. (NASDAQ:ORIG) shares fell 4.2% during trading on Tuesday . The stock traded as low as $2.01 and last traded at $2.04, with a volume of 1,087,329 shares changing hands. The stock had previously closed at $2.13.

Several research firms recently commented on ORIG. Zacks Investment Research upgraded shares of Ocean Rig UDW from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a report on Saturday, April 30th. Evercore ISI reaffirmed a “hold” rating on shares of Ocean Rig UDW in a research report on Thursday, June 30th. Finally, Deutsche Bank AG increased their price objective on shares of Ocean Rig UDW from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Tuesday, May 24th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Ocean Rig UDW presently has a consensus rating of “Hold” and an average target price of $2.49.

The firm has a 50 day moving average price of $2.37 and a 200-day moving average price of $1.72.

Ocean Rig UDW (NASDAQ:ORIG) last released its earnings results on Thursday, May 19th. The company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.45. During the same period last year, the firm earned $0.31 EPS. The business had revenue of $508 million for the quarter, compared to analysts’ expectations of $424.66 million. The company’s revenue was up 26.3% compared to the same quarter last year. Analysts forecast that Ocean Rig UDW Inc. will post $2.52 EPS for the current fiscal 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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