Midday Update: Ocean Rig UDW Inc. (ORIG) Charges Ahead 20.78% on August 18

Ocean Rig UDW Inc. (ORIG) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector during morning trading on August 18. At the lunch break, shares of ORIG have gained 20.78% to $0.91 after closing the day prior at $0.76. In the first two and a half hours of trading, the stock has gone as high as $0.98 and as low as $0.77. Today's rise has come with about 8.79 million shares changing hands, compared to an average 30-day volume of 3.35 million for Ocean Rig UDW Inc.. The price is currently below the 30-day volume weighted average price of $0.9 for ORIG. The share appreciation gives the company a market capitalization of $121.58 million based upon 160.89 million shares outstanding. It also means that ORIG has a price-to-book ratio of 0.03:1. In the past 52 weeks, shares of ORIG have traded as low as $0.6601 and as high as $3.49. Technical traders will take note that at $0.91, shares of ORIG are trading below their 200-day MA at $1.7 and below their 50-day MA at $2.31. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish. Who is ORIG? Ocean Rig UDW Inc is an offshore drilling contractor providing oilfield services for offshore oil & gas exploration, development & production drilling & specializing in the ultra-deepwater & harsh-environment segment of the offshore drilling industry. The company’s 2274 employees are led by CEO George Economou from the corporate headquarters at 10 Skopa Street, Tribune House in Nicosia, . For more information on ORIG and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit FinancialPress.com today. All data provided by QuoteMedia, with stock data accurate as of 12:00 PM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information. About FinancialPress.com FinancialPress.com is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here.