O-I Glass Sees Unusually Large Options Volume (NYSE:OI)

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

Institutional Trading of O-I Glass

Several institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd bought a new stake in O-I Glass during the third quarter worth about $148,000. Barclays PLC lifted its position in O-I Glass by 349.3% in the 3rd quarter. Barclays PLC now owns 261,161 shares of the industrial products company’s stock worth $3,427,000 after buying an additional 203,037 shares during the last quarter. Geode Capital Management LLC boosted its stake in O-I Glass by 1.1% in the third quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company’s stock worth $46,827,000 after buying an additional 37,238 shares in the last quarter. Sanctuary Advisors LLC bought a new position in O-I Glass during the third quarter valued at approximately $263,000. Finally, JPMorgan Chase & Co. raised its stake in shares of O-I Glass by 18.0% during the third quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company’s stock worth $8,130,000 after acquiring an additional 94,671 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Price Performance

NYSE:OI opened at $10.84 on Thursday. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -15.27, a P/E/G ratio of 0.24 and a beta of 0.98. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The stock has a fifty day moving average of $11.36 and a 200 day moving average of $11.65. O-I Glass has a 52-week low of $9.23 and a 52-week high of $15.72.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. On average, research analysts expect that O-I Glass will post 1.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on OI. Royal Bank of Canada reaffirmed an “outperform” rating and set a $16.00 price objective on shares of O-I Glass in a report on Monday, March 17th. Bank of America raised their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Citigroup lowered their target price on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Wells Fargo & Company cut their price target on O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, O-I Glass has a consensus rating of “Moderate Buy” and a consensus target price of $15.38.

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.