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

O-I Glass, Inc. (NYSE:OI) was the recipient of unusually large options trading on Wednesday. Stock traders acquired 2,354 call options on the company. This is an increase of approximately 3,039% compared to the typical volume of 75 call options.

O-I Glass Trading Down 0.6 %

Shares of OI stock opened at $15.09 on Thursday. O-I Glass has a 1 year low of $13.56 and a 1 year high of $23.57. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.23 and a quick ratio of 0.77. The stock’s 50 day simple moving average is $16.19 and its two-hundred day simple moving average is $15.66. The company has a market cap of $2.35 billion, a PE ratio of -20.12, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the business posted $0.38 earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. Research analysts predict that O-I Glass will post 2.38 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on OI shares. UBS Group started coverage on O-I Glass in a research note on Tuesday, January 16th. They issued a “buy” rating and a $26.00 price objective for the company. Barclays upped their price objective on O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 13th. Citigroup lowered O-I Glass from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $17.00 to $18.00 in a research note on Wednesday, January 3rd. TheStreet lowered O-I Glass from a “b-” rating to a “c-” rating in a research note on Tuesday, February 6th. Finally, Truist Financial reiterated a “buy” rating and issued a $20.00 target price on shares of O-I Glass in a research report on Monday, March 25th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Institutional Investors Weigh In On O-I Glass

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OI. Van ECK Associates Corp raised its holdings in shares of O-I Glass by 414.2% in the third quarter. Van ECK Associates Corp now owns 129,826 shares of the industrial products company’s stock worth $2,172,000 after buying an additional 104,576 shares during the period. Hussman Strategic Advisors Inc. purchased a new stake in shares of O-I Glass in the third quarter worth approximately $1,757,000. New York State Common Retirement Fund raised its holdings in shares of O-I Glass by 14.4% in the third quarter. New York State Common Retirement Fund now owns 523,860 shares of the industrial products company’s stock worth $8,764,000 after buying an additional 65,835 shares during the period. American Century Companies Inc. raised its holdings in shares of O-I Glass by 7.8% in the third quarter. American Century Companies Inc. now owns 1,672,400 shares of the industrial products company’s stock worth $27,979,000 after buying an additional 121,495 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its holdings in shares of O-I Glass by 378.2% in the third quarter. Schonfeld Strategic Advisors LLC now owns 63,116 shares of the industrial products company’s stock worth $1,056,000 after buying an additional 49,916 shares during the period. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

About O-I Glass

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.