O-I Glass Target of Unusually High Options Trading (NYSE:OI)

O-I Glass, Inc. (NYSE:OI) saw unusually large options trading activity on Wednesday. Stock investors acquired 2,354 call options on the stock. This is an increase of approximately 3,039% compared to the average volume of 75 call options.

O-I Glass Stock Performance

Shares of OI stock opened at $12.69 on Friday. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77. The firm has a 50-day moving average of $12.69 and a 200-day moving average of $12.23. O-I Glass has a one year low of $10.08 and a one year high of $17.58. The company has a market cap of $1.96 billion, a P/E ratio of -4.60 and a beta of 1.20.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the business posted $0.80 earnings per share. The business’s revenue was down 3.7% compared to the same quarter last year. Equities research analysts forecast that O-I Glass will post 0.76 EPS for the current fiscal year.

Institutional Trading of O-I Glass

Several hedge funds have recently made changes to their positions in OI. Harbor Capital Advisors Inc. bought a new position in O-I Glass in the 3rd quarter worth approximately $27,000. Newbridge Financial Services Group Inc. grew its position in shares of O-I Glass by 1,337.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 2,675 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of O-I Glass by 371.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 1,892 shares during the period. Nisa Investment Advisors LLC lifted its holdings in O-I Glass by 28.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,136 shares in the last quarter. Finally, KBC Group NV boosted its stake in O-I Glass by 38.9% in the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 1,521 shares during the period. 97.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Citigroup lifted their price objective on O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada dropped their price target on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Bank of America upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $16.00 in a research report on Thursday, October 17th. Truist Financial restated a “buy” rating and issued a $16.00 target price (down previously from $17.00) on shares of O-I Glass in a report on Thursday, August 1st. Finally, StockNews.com upgraded O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.25.

O-I Glass Company Profile

O-I Glass, Inc, through its subsidiaries, engages in the manufacture and sale of glass containers to food and beverage manufacturers primarily in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.