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

O-I Glass, Inc. (NYSE:OI - Get Free Report) saw unusually large options trading activity on Wednesday. Stock investors 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 Upgrades and Downgrades

OI has been the topic of a number of analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $16.00 target price on shares of O-I Glass in a research report on Monday, March 17th. Citigroup lifted their target price on shares of O-I Glass from $11.00 to $14.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Truist Financial reiterated a "buy" rating and set a $16.00 price target (up from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Finally, Barclays upped their price target on shares of O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $15.88.

O-I Glass Trading Up 2.7%

NYSE:OI traded up $0.36 during midday trading on Tuesday, reaching $13.88. 1,895,402 shares of the stock traded hands, compared to its average volume of 1,568,082. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. O-I Glass has a 12 month low of $9.23 and a 12 month high of $14.34. The stock has a market capitalization of $2.15 billion, a P/E ratio of -19.55, a PEG ratio of 0.24 and a beta of 0.93. The company has a fifty day moving average of $11.92 and a 200 day moving average of $11.64.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.18 by $0.22. The business had revenue of $1.57 billion for 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 quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, research analysts predict that O-I Glass will post 1.33 EPS for the current year.

Hedge Funds Weigh In On O-I Glass

Several hedge funds and other institutional investors have recently bought and sold shares of OI. Highland Peak Capital LLC lifted its stake in O-I Glass by 87.5% during the 4th quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company's stock valued at $42,029,000 after acquiring an additional 1,809,237 shares during the period. Cooper Creek Partners Management LLC lifted its stake in O-I Glass by 18.2% during the 4th quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company's stock valued at $120,132,000 after acquiring an additional 1,705,216 shares during the period. Millennium Management LLC lifted its stake in shares of O-I Glass by 251.7% in the 4th quarter. Millennium Management LLC now owns 1,458,102 shares of the industrial products company's stock worth $15,806,000 after purchasing an additional 1,043,570 shares during the period. Mesirow Institutional Investment Management Inc. bought a new position in shares of O-I Glass in the 4th quarter worth approximately $10,885,000. Finally, MetLife Investment Management LLC lifted its stake in shares of O-I Glass by 1,043.3% in the 1st quarter. MetLife Investment Management LLC now owns 1,074,764 shares of the industrial products company's stock worth $12,328,000 after purchasing an additional 980,758 shares during the period. 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.