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

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on OI shares. Robert W. Baird decreased their price target on shares of O-I Glass from $22.00 to $18.00 and set an "outperform" rating on the stock in a report on Thursday, August 1st. Citigroup boosted their price objective on O-I Glass from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Truist Financial restated a "buy" rating and set a $16.00 price target (down from $17.00) on shares of O-I Glass in a report on Thursday, August 1st. Bank of America raised O-I Glass from a "neutral" rating to a "buy" rating and upped their price objective for the company from $14.00 to $16.00 in a research note on Thursday. Finally, Barclays cut their target price on shares of O-I Glass from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.63.

O-I Glass Trading Up 2.9 %

Shares of NYSE OI traded up $0.37 during midday trading on Thursday, reaching $13.10. The stock had a trading volume of 1,019,553 shares, compared to its average volume of 1,692,755. The company's 50 day moving average price is $12.60 and its 200 day moving average price is $12.73. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.75 and a current ratio of 1.26. O-I Glass has a twelve month low of $10.08 and a twelve month high of $17.58. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -8.18, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17.

O-I Glass (NYSE:OI - Get Free Report) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. O-I Glass had a negative net margin of 4.32% and a positive return on equity of 15.64%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm earned $0.88 earnings per share. O-I Glass's quarterly revenue was down 8.5% on a year-over-year basis. As a group, sell-side analysts expect that O-I Glass will post 1.13 EPS for the current year.

Insider Buying and Selling

In other news, Director John Humphrey acquired 15,000 shares of the business's stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average price of $11.30 per share, with a total value of $169,500.00. Following the completion of the transaction, the director now directly owns 84,227 shares of the company's stock, valued at $951,765.10. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On O-I Glass

Institutional investors and hedge funds have recently modified their holdings of the business. Newbridge Financial Services Group Inc. boosted its stake in O-I Glass by 1,337.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company's stock worth $32,000 after acquiring an additional 2,675 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of O-I Glass by 371.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company's stock worth $32,000 after purchasing an additional 1,892 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of O-I Glass in the 1st quarter valued at about $33,000. FinTrust Capital Advisors LLC acquired a new stake in shares of O-I Glass in the 1st quarter valued at about $38,000. Finally, Headlands Technologies LLC bought a new stake in O-I Glass in the 1st quarter valued at about $39,000. 97.24% of the stock is currently owned by 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.