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

O-I Glass, Inc. (NYSE:OI) was the recipient of some unusual options trading activity on Wednesday. Investors bought 2,354 call options on the company. This is an increase of 3,039% compared to the average volume of 75 call options.

Analyst Ratings Changes

A number of research firms have issued reports on OI. Weiss Ratings reissued a “sell (d-)” rating on shares of O-I Glass in a research note on Wednesday, October 8th. Wells Fargo & Company increased their price objective on O-I Glass from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Zacks Research cut O-I Glass from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Wall Street Zen upgraded O-I Glass from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Truist Financial cut their price target on O-I Glass from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, O-I Glass presently has an average rating of “Hold” and a consensus target price of $16.67.

Hedge Funds Weigh In On O-I Glass

Institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in O-I Glass by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 767,260 shares of the industrial products company’s stock worth $8,800,000 after acquiring an additional 17,254 shares during the last quarter. American Century Companies Inc. grew its position in shares of O-I Glass by 11.0% in the first quarter. American Century Companies Inc. now owns 326,153 shares of the industrial products company’s stock valued at $3,741,000 after purchasing an additional 32,339 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of O-I Glass in the first quarter worth about $658,000. Charles Schwab Investment Management Inc. increased its stake in shares of O-I Glass by 7.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,992,887 shares of the industrial products company’s stock worth $22,858,000 after purchasing an additional 144,030 shares during the period. Finally, Nuveen LLC acquired a new position in shares of O-I Glass during the 1st quarter worth about $10,738,000. Institutional investors own 97.24% of the company’s stock.

O-I Glass Price Performance

NYSE OI opened at $13.29 on Friday. O-I Glass has a fifty-two week low of $9.23 and a fifty-two week high of $16.04. The stock’s 50-day moving average is $12.54 and its two-hundred day moving average is $13.32. The firm has a market cap of $2.04 billion, a P/E ratio of -8.05, a price-to-earnings-growth ratio of 0.22 and a beta of 0.89. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.24 and a quick ratio of 0.77.

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

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.