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

O-I Glass, Inc. (NYSE:OI) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 5,740,000 shares, a growth of 24.5% from the August 31st total of 4,610,000 shares. Based on an average daily trading volume, of 1,790,000 shares, the short-interest ratio is currently 3.2 days. Currently, 3.8% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OI. Robert W. Baird dropped 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 research note on Thursday, August 1st. Truist Financial reaffirmed 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. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. UBS Group cut their price objective on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company decreased their target price on shares of O-I Glass from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, O-I Glass currently has a consensus rating of “Moderate Buy” and an average target price of $16.25.

O-I Glass Stock Performance

Shares of NYSE OI traded up $0.04 during trading hours on Friday, hitting $13.27. 2,063,581 shares of the stock were exchanged, compared to its average volume of 1,736,571. O-I Glass has a one year low of $10.08 and a one year high of $17.58. The company’s 50 day moving average is $12.25 and its 200 day moving average is $13.00. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.26 and a quick ratio of 0.75. The firm has a market capitalization of $2.07 billion, a P/E ratio of -8.35, a P/E/G ratio of 1.83 and a beta of 1.17.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the business posted $0.88 earnings per share. The firm’s revenue was down 8.5% compared to the same quarter last year. On average, research analysts expect that O-I Glass will post 1.13 EPS for the current year.

Insider Buying and Selling at O-I Glass

In related news, Director John Humphrey bought 15,000 shares of O-I Glass 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 completion of the acquisition, the director now directly owns 84,227 shares in the company, valued at approximately $951,765.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On O-I Glass

Several large investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. raised its stake in shares of O-I Glass by 1,337.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after buying an additional 2,675 shares in the last quarter. Dana Investment Advisors Inc. boosted its stake in O-I Glass by 27.3% in the second quarter. Dana Investment Advisors Inc. now owns 319,760 shares of the industrial products company’s stock worth $3,559,000 after purchasing an additional 68,621 shares in the last quarter. Creative Planning bought a new stake in shares of O-I Glass during the second quarter worth $475,000. Susquehanna Fundamental Investments LLC increased its stake in shares of O-I Glass by 95.6% in the second quarter. Susquehanna Fundamental Investments LLC now owns 120,397 shares of the industrial products company’s stock valued at $1,340,000 after buying an additional 58,843 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in O-I Glass by 6.1% during the 2nd quarter. Mackenzie Financial Corp now owns 20,091 shares of the industrial products company’s stock worth $224,000 after buying an additional 1,162 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

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.