O-I Glass, Inc. (NYSE:OI - Get Free Report) was the target of some unusual options trading on Wednesday. Traders purchased 2,354 call options on the stock. This is an increase of 3,039% compared to the typical volume of 75 call options.
O-I Glass Stock Up 0.9 %
Shares of OI traded up $0.11 during trading hours on Thursday, hitting $12.32. The company had a trading volume of 1,257,698 shares, compared to its average volume of 1,787,155. The company has a market capitalization of $1.92 billion, a PE ratio of -7.75, a price-to-earnings-growth ratio of 1.67 and a beta of 1.24. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 2.85. O-I Glass has a one year low of $10.08 and a one year high of $20.29. The company's fifty day moving average price is $11.41 and its two-hundred day moving average price is $13.68.
O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.77 billion. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The business's revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 EPS. As a group, equities analysts forecast that O-I Glass will post 1.13 earnings per share for the current fiscal year.
Insider Activity
In related news, Director John Humphrey acquired 15,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $11.30 per share, with a total value of $169,500.00. Following the purchase, the director now directly owns 84,227 shares of the company's stock, valued at $951,765.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.49% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Thompson Investment Management Inc. increased its position in O-I Glass by 84.2% during the 1st quarter. Thompson Investment Management Inc. now owns 393,883 shares of the industrial products company's stock valued at $6,535,000 after buying an additional 180,093 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in O-I Glass during the 1st quarter valued at about $1,021,000. Duality Advisers LP purchased a new stake in O-I Glass during the 1st quarter valued at about $1,554,000. Norges Bank purchased a new stake in O-I Glass during the 4th quarter valued at about $27,562,000. Finally, Goldman Sachs Group Inc. grew its stake in O-I Glass by 8.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,474,863 shares of the industrial products company's stock valued at $24,158,000 after purchasing an additional 115,728 shares during the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the company. UBS Group decreased their price target on O-I Glass from $26.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday, July 17th. Truist Financial reissued a "buy" rating and set a $16.00 price target (down from $17.00) on shares of O-I Glass in a research note on Thursday, August 1st. Royal Bank of Canada reduced their price objective on O-I Glass from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Monday, August 5th. Wells Fargo & Company reduced their price objective on O-I Glass from $19.00 to $18.00 and set an "overweight" rating on the stock in a report on Wednesday, July 17th. Finally, StockNews.com upgraded O-I Glass from a "sell" rating to a "hold" rating in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $16.89.
Get Our Latest Analysis on OI
O-I Glass Company Profile
(
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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.
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