Ocean Rig UDW Inc. New (ORIG) Cut to Hold at ValuEngine

ValuEngine downgraded shares of Ocean Rig UDW Inc. New (NASDAQ:ORIG) from a buy rating to a hold rating in a report issued on Wednesday.

ORIG has been the topic of a number of other reports. BidaskClub upgraded shares of Ocean Rig UDW Inc. New from a strong sell rating to a sell rating in a research note on Thursday, February 22nd. Credit Suisse Group started coverage on shares of Ocean Rig UDW Inc. New in a research note on Friday, December 15th. They issued an outperform rating on the stock.

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Shares of Ocean Rig UDW Inc. New (NASDAQ:ORIG) traded up $0.47 during trading hours on Wednesday, reaching $25.56. 160,870 shares of the company traded hands, compared to its average volume of 128,410. Ocean Rig UDW Inc. New has a one year low of $20.22 and a one year high of $40.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 4.61 and a current ratio of 1.86.

Hedge funds have recently modified their holdings of the business. Spark Investment Management LLC bought a new position in Ocean Rig UDW Inc. New in the 4th quarter worth about $249,000. Neuberger Berman Group LLC bought a new position in Ocean Rig UDW Inc. New in the 3rd quarter worth about $640,000. Geode Capital Management LLC bought a new position in Ocean Rig UDW Inc. New in the 4th quarter worth about $1,072,000. Goldman Sachs Group Inc. bought a new position in Ocean Rig UDW Inc. New in the 4th quarter worth about $1,124,000. Finally, AEGON USA Investment Management LLC bought a new position in Ocean Rig UDW Inc. New in the 4th quarter worth about $1,144,000. Institutional investors and hedge funds own 78.66% of the company’s stock.

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About Ocean Rig UDW Inc. New

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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