O-I Glass Sees Unusually Large Options Volume (NYSE:OI)

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

Hedge Funds Weigh In On O-I Glass

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OI. Covestor Ltd lifted its position in O-I Glass by 259.7% in the 3rd quarter. Covestor Ltd now owns 1,669 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 1,205 shares in the last quarter. Belpointe Asset Management LLC lifted its position in O-I Glass by 109.4% in the 1st quarter. Belpointe Asset Management LLC now owns 1,518 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 793 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of O-I Glass in the 1st quarter worth $34,000. TFO Wealth Partners LLC boosted its stake in shares of O-I Glass by 24,311.1% in the 4th quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company's stock worth $36,000 after buying an additional 2,188 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of O-I Glass by 499.3% in the 1st quarter. Quarry LP now owns 1,744 shares of the industrial products company's stock worth $40,000 after buying an additional 1,453 shares during the last quarter. 97.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OI has been the subject of several research analyst reports. TheStreet lowered O-I Glass from a "b-" rating to a "c-" rating in a research note on Tuesday, February 6th. StockNews.com downgraded O-I Glass from a "buy" rating to a "hold" rating in a report on Thursday, February 15th. Citigroup downgraded O-I Glass from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $17.00 to $18.00 in a report on Wednesday, January 3rd. Barclays boosted their price target on O-I Glass from $16.00 to $18.00 and gave the company an "equal weight" rating in a report on Tuesday, February 13th. Finally, Truist Financial restated a "buy" rating and set a $20.00 price target on shares of O-I Glass in a report on Monday, March 25th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $24.00.

O-I Glass Stock Up 2.2 %

Shares of OI traded up $0.33 during mid-day trading on Thursday, reaching $15.42. The company had a trading volume of 951,778 shares, compared to its average volume of 1,672,500. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.77 and a current ratio of 1.23. The firm has a 50-day moving average price of $16.19 and a 200 day moving average price of $15.66. O-I Glass has a 52 week low of $13.56 and a 52 week high of $23.57. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -20.59, a price-to-earnings-growth ratio of 1.04 and a beta of 1.35.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.09. The firm had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.63 billion. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The business's revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS. On average, sell-side analysts forecast that O-I Glass will post 2.37 EPS for the current 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.