O-I Glass, Inc. (NYSE:OI) Short Interest Down 13.8% in March

O-I Glass, Inc. (NYSE:OI) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totaling 13,615,188 shares, a decrease of 13.8% from the March 15th total of 15,790,521 shares. Based on an average trading volume of 2,764,150 shares, the days-to-cover ratio is presently 4.9 days. Approximately 9.0% of the company’s stock are short sold.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of O-I Glass in a report on Thursday, January 22nd. Zacks Research downgraded shares of O-I Glass from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 3rd. UBS Group cut their price objective on shares of O-I Glass from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Royal Bank Of Canada set a $14.00 price objective on shares of O-I Glass in a report on Friday. Finally, Wells Fargo & Company downgraded shares of O-I Glass from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $18.00 to $13.00 in a report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, O-I Glass has a consensus rating of “Hold” and an average price target of $15.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in shares of O-I Glass by 87.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 830 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of O-I Glass in the 2nd quarter worth $29,000. Quarry LP acquired a new stake in shares of O-I Glass in the 4th quarter worth $32,000. Caitong International Asset Management Co. Ltd increased its stake in shares of O-I Glass by 36,533.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 2,192 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of O-I Glass by 64.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 918 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Up 4.8%

O-I Glass stock opened at $10.91 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 3.35. O-I Glass has a 12 month low of $9.84 and a 12 month high of $16.91. The stock’s 50 day simple moving average is $12.06 and its two-hundred day simple moving average is $13.27. The firm has a market cap of $1.67 billion, a PE ratio of -12.98, a P/E/G ratio of 0.87 and a beta of 0.84.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.52 billion. O-I Glass had a positive return on equity of 18.07% and a negative net margin of 2.01%.The business’s revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) EPS. Analysts anticipate that O-I Glass will post 1.33 earnings per share for the current year.

O-I Glass Company Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.