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

O-I Glass, Inc. (NYSE:OI) saw unusually large options trading activity on Wednesday. Traders purchased 2,354 call options on the company. This is an increase of approximately 3,039% compared to the average volume of 75 call options.

Hedge Funds Weigh In On O-I Glass

Several institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in O-I Glass in the 2nd quarter worth $29,000. Smartleaf Asset Management LLC increased its holdings 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 worth $35,000 after purchasing an additional 918 shares during the last quarter. State of Wyoming purchased a new stake in shares of O-I Glass in the second quarter worth about $35,000. GAMMA Investing LLC boosted its stake in O-I Glass by 31.7% during the second quarter. GAMMA Investing LLC now owns 3,403 shares of the industrial products company’s stock valued at $50,000 after buying an additional 820 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in O-I Glass during the 2nd quarter valued at approximately $51,000. 97.24% of the stock is owned by hedge funds and other institutional investors.

O-I Glass Price Performance

Shares of O-I Glass stock opened at $15.25 on Thursday. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of -16.22, a PEG ratio of 0.18 and a beta of 0.77. The company has a quick ratio of 0.84, a current ratio of 1.33 and a debt-to-equity ratio of 3.36. The stock’s 50-day simple moving average is $14.50 and its 200-day simple moving average is $13.60. O-I Glass has a 52 week low of $9.23 and a 52 week high of $16.04.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, November 4th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. O-I Glass had a positive return on equity of 16.02% and a negative net margin of 2.26%.The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the company earned ($0.04) EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. O-I Glass has set its FY 2025 guidance at 1.550-1.650 EPS. As a group, analysts expect that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OI. Bank of America upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $17.00 in a research report on Monday, November 17th. Citigroup raised their target price on O-I Glass from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, January 6th. Truist Financial lifted their target price on O-I Glass from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Royal Bank Of Canada restated an “outperform” rating and issued a $19.00 price target on shares of O-I Glass in a research report on Thursday, January 15th. Finally, Zacks Research raised O-I Glass from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 2nd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.88.

About O-I Glass

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.