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

O-I Glass, Inc. (NYSE:OI) was the target of some unusual options trading activity on Wednesday. Investors bought 2,354 call options on the company. This is an increase of 3,039% compared to the typical volume of 75 call options.

Analyst Ratings Changes

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

O-I Glass Stock Down 1.3 %

Shares of NYSE OI traded down $0.17 during trading on Friday, reaching $12.97. 1,277,280 shares of the stock were exchanged, compared to its average volume of 1,691,872. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -4.76 and a beta of 1.20. The business’s 50-day moving average price is $12.65 and its 200 day moving average price is $12.29. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. O-I Glass has a twelve month low of $10.08 and a twelve month high of $17.58.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. O-I Glass’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.80 EPS. As a group, equities analysts forecast that O-I Glass will post 0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

A number of hedge funds have recently added to or reduced their stakes in OI. Harbor Capital Advisors Inc. bought a new position in shares of O-I Glass during the third quarter worth about $27,000. Newbridge Financial Services Group Inc. grew its position in O-I Glass by 1,337.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 2,675 shares during the last quarter. GAMMA Investing LLC lifted its position in O-I Glass by 371.0% in the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 1,892 shares during the period. Headlands Technologies LLC bought a new position in O-I Glass during the 1st quarter valued at $39,000. Finally, Nisa Investment Advisors LLC increased its position in shares of 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 valued at $67,000 after purchasing an additional 1,136 shares during the period. Institutional investors and hedge funds own 97.24% of the company’s stock.

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.