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

O-I Glass, Inc. (NYSE:OI) 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.

O-I Glass Price Performance

Shares of NYSE OI opened at $11.04 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. The firm has a market capitalization of $1.71 billion, a P/E ratio of -4.00 and a beta of 1.21. The stock’s 50-day simple moving average is $11.31 and its two-hundred day simple moving average is $11.93. O-I Glass has a twelve month low of $9.85 and a twelve month high of $17.58.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. O-I Glass’s revenue was down 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that O-I Glass will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new position in O-I Glass during the third quarter valued at $27,000. Newbridge Financial Services Group Inc. lifted its position 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 valued at $32,000 after purchasing an additional 2,675 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of O-I Glass by 371.0% in the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 1,892 shares in the last quarter. R Squared Ltd purchased a new stake in shares of O-I Glass in the fourth quarter worth about $45,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of O-I Glass by 28.4% in the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after buying an additional 1,136 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Wall Street Analysts Forecast Growth

OI has been the topic of a number of recent analyst reports. Royal Bank of Canada decreased their price target on O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Wells Fargo & Company cut their price objective on O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Barclays decreased their price objective on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Finally, Citigroup decreased their price target 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. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, O-I Glass has an average rating of “Moderate Buy” and an average price target of $15.38.

O-I Glass Company Profile

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.