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

O-I Glass, Inc. (NYSE:OI) was the target of unusually large options trading activity on Wednesday. Investors bought 2,354 call options on the stock. This is an increase of approximately 3,039% compared to the average daily volume of 75 call options.

O-I Glass Trading Up 1.2%

Shares of OI stock opened at $14.96 on Friday. The stock has a market cap of $2.30 billion, a P/E ratio of -15.91, a price-to-earnings-growth ratio of 0.23 and a beta of 0.78. O-I Glass has a 1 year low of $9.23 and a 1 year high of $16.04. The company has a current ratio of 1.33, a quick ratio of 0.84 and a debt-to-equity ratio of 3.36. The stock has a 50 day simple moving average of $12.77 and a 200 day simple moving average of $13.36.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Wednesday, March 1st. The industrial products company reported $0.36 EPS for the quarter. The firm had revenue of $1.59 billion for the quarter. O-I Glass had a positive return on equity of 16.02% and a negative net margin of 2.26%. On average, research analysts predict that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on OI shares. Zacks Research cut shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of O-I Glass in a research note on Wednesday, October 8th. Truist Financial dropped their price target on O-I Glass from $21.00 to $17.00 and set a “buy” rating for the company in a report on Monday, October 13th. Wells Fargo & Company boosted their price target on O-I Glass from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Finally, Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $17.00 in a research report on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.67.

Institutional Trading of O-I Glass

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in O-I Glass by 31.7% in the second quarter. GAMMA Investing LLC now owns 3,403 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 820 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of O-I Glass by 3.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 23,495 shares of the industrial products company’s stock valued at $346,000 after purchasing an additional 879 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings 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 valued at $35,000 after purchasing an additional 918 shares in the last quarter. KLP Kapitalforvaltning AS increased its stake in shares of O-I Glass by 3.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 33,600 shares of the industrial products company’s stock valued at $495,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Amundi raised its holdings in shares of O-I Glass by 1.4% during the 2nd quarter. Amundi now owns 75,483 shares of the industrial products company’s stock worth $1,175,000 after buying an additional 1,031 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

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.