Stock Traders Purchase Large Volume of O-I Glass Call Options (NYSE:OI)

O-I Glass, Inc. (NYSE:OI) was the recipient of unusually large options trading activity on Wednesday. Traders acquired 2,354 call options on the company. This represents an increase of 3,039% compared to the typical daily volume of 75 call options.

O-I Glass Trading Up 2.8 %

OI stock opened at $12.06 on Thursday. O-I Glass has a 12 month low of $9.85 and a 12 month high of $17.58. The firm’s 50-day moving average is $11.08 and its 200 day moving average is $11.96. The company has a market capitalization of $1.87 billion, a PE ratio of -4.37 and a beta of 1.22. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. On average, research analysts anticipate that O-I Glass will post 0.75 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in shares of O-I Glass in the 3rd quarter worth approximately $27,000. GAMMA Investing LLC lifted its holdings in O-I Glass by 371.0% during the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock worth $32,000 after buying an additional 1,892 shares during the period. R Squared Ltd purchased a new stake in O-I Glass during the fourth quarter worth $45,000. Nisa Investment Advisors LLC increased its holdings in shares of O-I Glass by 28.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 1,136 shares during the period. Finally, KBC Group NV raised its position in shares of O-I Glass by 38.9% in the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 1,521 shares in the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price objective on O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada lowered their price target on O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Citigroup cut their price objective on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Barclays lowered their target price on shares of 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, Bank of America upped their price target on shares of O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, O-I Glass presently has an average rating of “Moderate Buy” and a consensus price target of $15.38.

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.