Short Interest in O-I Glass, Inc. (NYSE:OI) Increases By 26.9%

O-I Glass, Inc. (NYSE:OI) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 6,990,000 shares, agrowthof26.9% from the July 15th total of 5,510,000 shares. Approximately4.7% of the company’s shares are sold short. Based on an average daily trading volume, of 1,650,000 shares, the short-interest ratio is currently 4.2 days. Based on an average daily trading volume, of 1,650,000 shares, the short-interest ratio is currently 4.2 days. Approximately4.7% of the company’s shares are sold short.

Insider Buying and Selling at O-I Glass

In related news, SVP Darrow A. Abrahams purchased 3,828 shares of O-I Glass stock in a transaction dated Tuesday, August 5th. The shares were acquired at an average cost of $13.05 per share, for a total transaction of $49,955.40. Following the transaction, the senior vice president directly owned 184,447 shares of the company’s stock, valued at approximately $2,407,033.35. This trade represents a 2.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gordon Hardie purchased 8,000 shares of O-I Glass stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average cost of $13.10 per share, for a total transaction of $104,800.00. Following the completion of the transaction, the chief executive officer owned 515,817 shares of the company’s stock, valued at approximately $6,757,202.70. This represents a 1.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OI. Headlands Technologies LLC purchased a new stake in shares of O-I Glass in the second quarter valued at about $29,000. State of Wyoming purchased a new position in shares of O-I Glass in the second quarter worth about $35,000. Smartleaf Asset Management LLC grew its position in shares of O-I Glass by 64.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 918 shares in the last quarter. GAMMA Investing LLC grew its holdings in O-I Glass by 79.3% during the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,142 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in O-I Glass during the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on OI. UBS Group restated a “buy” rating and issued a $19.00 price target (up from $17.00) on shares of O-I Glass in a report on Wednesday, July 9th. BNP Paribas Exane began coverage on O-I Glass in a report on Wednesday, June 25th. They set an “outperform” rating and a $18.00 price target for the company. Wells Fargo & Company reiterated a “mixed” rating on shares of O-I Glass in a report on Monday, August 4th. Citigroup upped their target price on O-I Glass from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, July 3rd. Finally, BNP Paribas set a $18.00 price target on shares of O-I Glass in a research note on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

O-I Glass Stock Performance

Shares of OI stock opened at $13.0520 on Friday. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -7.91, a PEG ratio of 0.25 and a beta of 0.92. The business’s 50-day moving average price is $14.20 and its 200-day moving average price is $12.78. The company has a current ratio of 1.24, a quick ratio of 0.77 and a debt-to-equity ratio of 3.58. O-I Glass has a 12 month low of $9.23 and a 12 month high of $16.04.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.12. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.70 billion. O-I Glass had a positive return on equity of 13.70% and a negative net margin of 3.95%.The firm’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 earnings per share. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. Equities research analysts forecast that O-I Glass will post 1.33 EPS for the current year.

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.