O-I Glass, Inc. (NYSE:OI) Short Interest Down 13.8% in March

Key Points

• Short interest down 13.8% — Short interest fell to 13,615,188 shares as of March 31, a 13.8% decline from mid‑March, equal to about 9.0% of shares short and a short‑interest ratio of 4.9 days.
• Heavy institutional ownership — Hedge funds and other institutions hold roughly 97.24% of O‑I Glass, with recent activity including HSBC boosting its stake ~330% and several firms initiating or increasing positions.
• Stock and analyst backdrop — Shares traded up 6.4% to $11.08, the company has a $1.7B market cap, negative P/E (-13.18) and high debt/equity (3.35); analysts’ consensus is a “Hold” with a $15.67 target amid recent price‑target cuts.

O-I Glass, Inc. (NYSE:OI - Get Free Report) was the recipient of a significant drop in short interest in the month of March. As of March 31st, there was short interest totaling 13,615,188 shares, a drop of 13.8% from the March 15th total of 15,790,521 shares. Based on an average daily trading volume, of 2,764,150 shares, the short-interest ratio is presently 4.9 days. Approximately 9.0% of the company's shares are short sold.

Hedge Funds Weigh In On O-I Glass

Several institutional investors and hedge funds have recently made changes to their positions in the business. Balboa Wealth Partners bought a new stake in shares of O-I Glass in the first quarter worth $168,000. Hsbc Holdings PLC boosted its stake in O-I Glass by 330.1% during the 4th quarter. Hsbc Holdings PLC now owns 58,920 shares of the industrial products company's stock valued at $872,000 after acquiring an additional 45,221 shares during the last quarter. Corient Private Wealth LLC grew its holdings in O-I Glass by 6.0% during the 4th quarter. Corient Private Wealth LLC now owns 18,694 shares of the industrial products company's stock worth $277,000 after acquiring an additional 1,062 shares in the last quarter. Villanova Investment Management Co LLC increased its position in shares of O-I Glass by 14.2% in the 4th quarter. Villanova Investment Management Co LLC now owns 190,329 shares of the industrial products company's stock worth $2,809,000 after purchasing an additional 23,716 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of O-I Glass in the 4th quarter valued at about $228,000. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

O-I Glass Stock Up 6.4%

O-I Glass stock traded up $0.67 during midday trading on Friday, hitting $11.08. 644,391 shares of the stock were exchanged, compared to its average volume of 2,060,592. O-I Glass has a 1 year low of $9.84 and a 1 year high of $16.91. The firm has a market cap of $1.70 billion, a P/E ratio of -13.18, a P/E/G ratio of 0.89 and a beta of 0.84. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.25 and a quick ratio of 0.77. The company has a 50 day moving average price of $12.17 and a two-hundred day moving average price of $13.28.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.01. O-I Glass had a negative net margin of 2.01% and a positive return on equity of 18.07%. The company had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same period in the prior year, the company posted ($0.05) EPS. The firm's revenue for the quarter was down 1.9% on a year-over-year basis. On average, sell-side analysts predict that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OI shares. Truist Financial decreased their price objective on shares of O-I Glass from $20.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday. Wall Street Zen cut shares of O-I Glass from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Weiss Ratings reiterated a "sell (d-)" rating on shares of O-I Glass in a report on Thursday, January 22nd. Royal Bank Of Canada set a $14.00 price objective on O-I Glass in a research report on Friday. Finally, Citigroup reduced their price objective on O-I Glass from $16.00 to $12.00 and set a "neutral" rating on the stock in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $15.67.

O-I Glass Company Profile

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.

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