Awilco Drilling Plc (OTC:AWLCF) Down 11.8% After Close to 33% Upward Rally in 30 Days


Dallas, Texas 10/29/2013 (Financialstrend) – Awilco Drilling Plc (OTC:AWLCF) AWILCO (OTCMKTS:AWLCF)is a $645 million market capitalized company which specializes in drilling oil wells in off shore and deep sea environment. It has its operations centered in U.K. and purses its business through its fleet of two rigs. In the past one month the stock of this turnkey drilling solution provider has seen huge increase in its market value followed by equally steep fall to lower levels of valuation. The stock has seen its value go up by close to 33% during trading in the last 30 days before shedding some of its valuation to settle at $21.5 as of close of business on October 28. Of the 30% odd percent increase in the market value of stock 15.6% was registered on one single day. This was during trading on October 25. Close to 328,043 shares of the stock changed hands that day which was twice the daily trading average transactions. But the stock shed most of those gains when trading resumed this week. It ended up losing close to 11.8% of its value with close to 258000 shares being sold through the day. The upward movement of the stock by close to 15% on October 25 can be traced back to few trade magazine write ups which have highlighted the huge potential the stock has in terms of returning value to its customers and how investors are not taking advantage of the current low price of the stock.

The upward rally of the stock last week took the share price to new heights and helped set a new 52 week bench mark. At current valuations the stock is trading at 55% above its 52 week low price of $13.85 it has recorded during April this year. Investors in the stock would be hoping that the company manages to sustain the gains it makes at the markets.