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

O-I Glass, Inc. (NYSE:OIGet Free Report) saw unusually large options trading activity on Wednesday. Stock investors acquired 2,354 call options on the stock. This is an increase of 3,039% compared to the typical volume of 75 call options.

Wall Street Analyst Weigh In

OI has been the topic of several analyst reports. Royal Bank of Canada cut their price target on shares of O-I Glass from $25.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. Bank of America reissued a “neutral” rating and set a $16.00 price target (down from $21.00) on shares of O-I Glass in a research report on Friday, April 19th. Citigroup lowered their price target on O-I Glass from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday. Truist Financial reiterated a “buy” rating and set a $17.00 price objective (down previously from $20.00) on shares of O-I Glass in a research note on Thursday, May 2nd. Finally, StockNews.com cut shares of O-I Glass from a “hold” rating to a “sell” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, O-I Glass presently has an average rating of “Hold” and a consensus target price of $18.89.

Check Out Our Latest Report on OI

O-I Glass Price Performance

NYSE:OI opened at $10.50 on Thursday. The company has a market cap of $1.64 billion, a P/E ratio of -6.60, a P/E/G ratio of 1.02 and a beta of 1.24. The firm’s fifty day moving average price is $12.09 and its two-hundred day moving average price is $14.49. O-I Glass has a one year low of $10.08 and a one year high of $23.57. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.02 and a quick ratio of 0.56.

O-I Glass (NYSE:OIGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 18.25%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the business earned $1.29 EPS. O-I Glass’s quarterly revenue was down 13.0% on a year-over-year basis. Equities analysts expect that O-I Glass will post 1.67 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Thompson Investment Management Inc. boosted its stake in shares of O-I Glass by 84.2% in the first quarter. Thompson Investment Management Inc. now owns 393,883 shares of the industrial products company’s stock valued at $6,535,000 after buying an additional 180,093 shares during the period. Norges Bank acquired a new stake in shares of O-I Glass during the 4th quarter worth $27,562,000. Goldman Sachs Group Inc. increased its position in shares of O-I Glass by 8.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,474,863 shares of the industrial products company’s stock worth $24,158,000 after purchasing an additional 115,728 shares during the period. Nut Tree Capital Management LP bought a new position in shares of O-I Glass in the fourth quarter worth $5,733,000. Finally, Leeward Investments LLC MA lifted its position in O-I Glass by 36.0% during the first quarter. Leeward Investments LLC MA now owns 623,129 shares of the industrial products company’s stock worth $10,338,000 after purchasing an additional 165,103 shares during the period. Institutional investors own 97.24% of the company’s stock.

About O-I Glass

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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.

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