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

O-I Glass, Inc. (NYSE:OI - Get Free Report) saw some unusual options trading activity on Wednesday. Investors purchased 2,354 call options on the stock. This represents an increase of approximately 3,039% compared to the typical daily volume of 75 call options.

O-I Glass Stock Down 0.8 %

Shares of NYSE OI traded down $0.11 during trading on Tuesday, reaching $13.15. The company had a trading volume of 1,212,573 shares, compared to its average volume of 1,572,307. The business's 50-day moving average is $11.49 and its 200 day moving average is $11.54. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The stock has a market cap of $2.03 billion, a PE ratio of -18.51, a P/E/G ratio of 0.24 and a beta of 0.93. O-I Glass has a 12-month low of $9.23 and a 12-month high of $14.15.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.22. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. O-I Glass's revenue was up .4% compared to the same quarter last year. During the same period last year, the business earned $0.45 EPS. As a group, equities analysts forecast that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OI has been the subject of several research analyst reports. Bank of America raised their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Royal Bank of Canada restated an "outperform" rating and set a $16.00 price target on shares of O-I Glass in a research report on Monday, March 17th. Citigroup decreased their price objective on O-I Glass from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Truist Financial reissued a "buy" rating and set a $16.00 price objective (up previously from $13.00) on shares of O-I Glass in a research report on Thursday, May 1st. Finally, Barclays upped their target price on shares of O-I Glass from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, O-I Glass has an average rating of "Moderate Buy" and a consensus price target of $15.50.

Hedge Funds Weigh In On O-I Glass

Hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of O-I Glass by 2.2% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,900 shares of the industrial products company's stock valued at $465,000 after purchasing an additional 916 shares during the last quarter. GAMMA Investing LLC grew its position in O-I Glass by 79.3% in the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock worth $30,000 after purchasing an additional 1,142 shares during the period. SummerHaven Investment Management LLC raised its stake in O-I Glass by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 75,226 shares of the industrial products company's stock valued at $863,000 after buying an additional 1,204 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in shares of O-I Glass by 9.6% during the 4th quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company's stock valued at $175,000 after buying an additional 1,410 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in shares of O-I Glass by 13.4% in the 4th quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company's stock worth $179,000 after buying an additional 1,954 shares during the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

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.