Investors Purchase Large Volume of O-I Glass Call Options (NYSE:OI)

O-I Glass, Inc. (NYSE:OI) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 2,354 call options on the company. This represents an increase of approximately 3,039% compared to the typical volume of 75 call options.

O-I Glass Stock Down 1.3%

NYSE:OI opened at $12.90 on Thursday. O-I Glass has a twelve month low of $9.23 and a twelve month high of $16.04. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -7.82, a price-to-earnings-growth ratio of 0.22 and a beta of 0.89. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 3.58. The stock’s 50 day moving average price is $12.53 and its two-hundred day moving average price is $13.32.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Wednesday, March 1st. The industrial products company reported $0.36 EPS for the quarter. The company had revenue of $1.59 billion during the quarter. O-I Glass had a positive return on equity of 13.70% and a negative net margin of 3.95%. Equities research analysts expect that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in O-I Glass in the 2nd quarter valued at about $29,000. Caitong International Asset Management Co. Ltd bought a new stake in O-I Glass in the first quarter valued at approximately $30,000. Smartleaf Asset Management LLC raised its stake in 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 buying an additional 918 shares during the period. State of Wyoming acquired a new stake in shares of O-I Glass in the second quarter valued at approximately $35,000. Finally, GAMMA Investing LLC boosted its stake in shares of O-I Glass by 31.7% during the 2nd quarter. GAMMA Investing LLC now owns 3,403 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 820 shares during the period. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OI. Truist Financial cut their price target on O-I Glass from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Zacks Research lowered O-I Glass from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of O-I Glass in a research report on Wednesday, October 8th. Wall Street Zen raised shares of O-I Glass from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Wells Fargo & Company boosted their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $16.67.

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.