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

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

Institutional Investors Weigh In On O-I Glass

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in O-I Glass by 79.3% in the first 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 in the last quarter. R Squared Ltd acquired a new stake in shares of O-I Glass in the fourth quarter worth about $45,000. Sterling Capital Management LLC raised its holdings in O-I Glass by 807.2% in the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock worth $53,000 after acquiring an additional 4,343 shares during the period. KBC Group NV boosted its holdings in O-I Glass by 42.5% during the fourth quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock valued at $84,000 after acquiring an additional 2,309 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of O-I Glass in the fourth quarter valued at about $86,000. 97.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wells Fargo & Company cut their price objective on O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Citigroup reduced their target price 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. Bank of America lifted their price target on O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $16.00 price objective on shares of O-I Glass in a research note on Monday, March 17th. Finally, Truist Financial decreased their target price on shares of O-I Glass from $15.00 to $13.00 and set a "buy" rating for the company in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, O-I Glass has an average rating of "Moderate Buy" and a consensus target price of $15.00.

O-I Glass Stock Up 5.1 %

NYSE:OI traded up $0.56 on Tuesday, hitting $11.34. 1,273,406 shares of the company's stock traded hands, compared to its average volume of 1,603,093. The firm has a 50-day moving average price of $11.30 and a 200-day moving average price of $11.58. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78. The company has a market cap of $1.75 billion, a PE ratio of -15.96, a price-to-earnings-growth ratio of 0.24 and a beta of 0.98. O-I Glass has a 1 year low of $9.23 and a 1 year high of $15.72.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. Equities analysts anticipate that O-I Glass will post 1.33 EPS for the current fiscal year.

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.