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

O-I Glass, Inc. (NYSE:OI) saw some unusual options trading on Wednesday. Traders acquired 2,354 call options on the company. This is an increase of approximately 3,039% compared to the typical daily volume of 75 call options.

O-I Glass Stock Up 0.7 %

OI opened at $12.69 on Thursday. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -4.60 and a beta of 1.20. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23. The firm’s fifty day moving average is $12.71 and its 200 day moving average is $12.22. O-I Glass has a fifty-two week low of $10.08 and a fifty-two week high of $17.58.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.08). The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations 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 was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.80 earnings per share. On average, sell-side analysts forecast that O-I Glass will post 0.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on OI shares. Citigroup boosted their price target on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Robert W. Baird cut their target price on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Barclays decreased their price target on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Truist Financial restated a “buy” rating and issued a $16.00 price objective (down from $17.00) on shares of O-I Glass in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.25.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. purchased a new stake in O-I Glass in the 3rd quarter worth $27,000. Newbridge Financial Services Group Inc. lifted 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 worth $32,000 after buying an additional 2,675 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 1,892 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in O-I Glass by 28.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock valued at $67,000 after buying an additional 1,136 shares during the last quarter. Finally, KBC Group NV grew its holdings in O-I Glass by 38.9% during the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock valued at $71,000 after buying an additional 1,521 shares in the last quarter. 97.24% of the stock is 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.