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

Key Points

• Traders bought 2,354 call options on O‑I Glass—about a 3,039% increase versus the typical daily volume of 75—representing an unusually large surge in bullish options activity.
• Analysts are mixed but overall rate the stock a Moderate Buy with an average target of $18.11; recent notable changes include Bank of America upgrading to Buy ($17), UBS reiterating Buy ($21), and Zacks downgrading to Strong Sell.
• Shares fell 4.3% to $11.88 on heavy trading (~1.5M shares); the company has high institutional ownership (97.24%), a negative P/E (-14.14) and a high debt‑to‑equity ratio (3.35).

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

Analyst Ratings Changes

Several brokerages have commented on OI. Bank of America raised O-I Glass from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $14.00 to $17.00 in a research note on Monday, November 17th. UBS Group reissued a "buy" rating and issued a $21.00 price objective on shares of O-I Glass in a research note on Thursday, February 12th. Wall Street Zen downgraded shares of O-I Glass from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Citigroup lowered their target price on O-I Glass from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, February 12th. Finally, Zacks Research lowered O-I Glass from a "hold" rating to a "strong sell" rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $18.11.

Institutional Investors Weigh In On O-I Glass

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in shares of O-I Glass by 87.6% during the fourth quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 830 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of O-I Glass in the 2nd quarter worth approximately $29,000. Quarry LP purchased a new stake in O-I Glass in the fourth quarter worth $32,000. Caitong International Asset Management Co. Ltd increased its holdings in O-I Glass by 36,533.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company's stock worth $32,000 after acquiring an additional 2,192 shares during the last quarter. Finally, State of Wyoming purchased a new stake in O-I Glass during the second quarter valued at about $35,000. Hedge funds and other institutional investors own 97.24% of the company's stock.

O-I Glass Stock Down 4.3%

Shares of NYSE OI traded down $0.54 during midday trading on Thursday, hitting $11.88. 1,502,041 shares of the stock traded hands, compared to its average volume of 1,965,932. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.77 and a current ratio of 1.25. O-I Glass has a one year low of $9.23 and a one year high of $16.91. The business has a 50 day moving average price of $15.09 and a two-hundred day moving average price of $13.77. The company has a market cap of $1.81 billion, a PE ratio of -14.14, a P/E/G ratio of 0.58 and a beta of 0.82.

O-I Glass (NYSE:OI - Get Free Report) last released 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. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.52 billion. O-I Glass had a negative net margin of 2.01% and a positive return on equity of 18.07%. The business's quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) earnings per share. On average, equities analysts predict that O-I Glass will post 1.33 EPS for the current year.

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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