O-I Glass (NYSE:OI) Shares Down 7% – Should You Sell?

O-I Glass, Inc. (NYSE:OI)’s share price dropped 7% during trading on Wednesday . The stock traded as low as $9.22 and last traded at $9.1780. Approximately 225,702 shares traded hands during trading, a decline of 91% from the average session volume of 2,445,995 shares. The stock had previously closed at $9.87.

Wall Street Analyst Weigh In

OI has been the subject of several recent research reports. Truist Financial reiterated a “buy” rating and set a $14.00 price objective (down from $15.00) on shares of O-I Glass in a report on Thursday, April 30th. Wells Fargo & Company downgraded O-I Glass from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $18.00 to $13.00 in a research note on Friday, March 20th. Weiss Ratings downgraded O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. Royal Bank Of Canada set a $14.00 price target on O-I Glass in a report on Friday, April 17th. Finally, UBS Group dropped their price objective on O-I Glass from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.14.

O-I Glass Trading Down 4.1%

The company has a fifty day simple moving average of $9.03 and a two-hundred day simple moving average of $11.80. The company has a market capitalization of $1.45 billion, a P/E ratio of -7.76, a price-to-earnings-growth ratio of 1.15 and a beta of 0.62. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.26 and a quick ratio of 0.73.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.04). The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.47 billion. O-I Glass had a positive return on equity of 13.65% and a negative net margin of 2.91%.The business’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 EPS. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. On average, analysts forecast that O-I Glass, Inc. will post 1.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Darrow A. Abrahams purchased 2,774 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average price of $9.04 per share, for a total transaction of $25,076.96. Following the completion of the acquisition, the senior vice president directly owned 235,928 shares in the company, valued at approximately $2,132,789.12. This trade represents a 1.19% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Randolph L. Burns purchased 11,000 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was purchased at an average cost of $9.32 per share, for a total transaction of $102,520.00. Following the transaction, the senior vice president owned 133,932 shares of the company’s stock, valued at approximately $1,248,246.24. This trade represents a 8.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 17,083 shares of company stock valued at $157,312 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On O-I Glass

A number of hedge funds have recently bought and sold shares of OI. Farther Finance Advisors LLC grew its position in shares of O-I Glass by 87.6% in the fourth quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 830 shares during the last quarter. Headlands Technologies LLC bought a new stake in O-I Glass during the 2nd quarter valued at approximately $29,000. Quarry LP acquired a new stake in O-I Glass in the 4th quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd increased its position in O-I Glass by 36,533.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock worth $32,000 after buying an additional 2,192 shares during the period. Finally, State of Wyoming bought a new position in O-I Glass in the 2nd quarter worth approximately $35,000. 97.24% of the stock is currently owned by institutional investors.

About O-I Glass

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.