O-I Glass Sees Unusually High Options Volume (NYSE:OI)

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

O-I Glass Stock Down 2.0 %

OI opened at $10.47 on Thursday. The firm has a market capitalization of $1.62 billion, a P/E ratio of -3.79 and a beta of 1.21. O-I Glass has a one year low of $9.85 and a one year high of $17.58. The company has a fifty day moving average price of $11.71 and a 200-day moving average price of $11.97. 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 announced its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. O-I Glass’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.80 earnings per share. Equities research analysts expect that O-I Glass will post 0.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on OI shares. Barclays lowered their target price on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Citigroup cut their target price on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday. Royal Bank of Canada lowered their price target on shares of 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. Bank of America raised their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday. Finally, StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, O-I Glass currently has an average rating of “Moderate Buy” and a consensus target price of $15.38.

Hedge Funds Weigh In On O-I Glass

A number of institutional investors have recently made changes to their positions in OI. Harbor Capital Advisors Inc. bought a new position in O-I Glass during the third quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. grew its holdings in shares of O-I Glass by 1,337.5% during 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 purchasing an additional 2,675 shares during the last quarter. GAMMA Investing LLC raised its position in O-I Glass by 371.0% in 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 during the period. Nisa Investment Advisors LLC lifted its stake in 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 purchasing an additional 1,136 shares during the last quarter. Finally, KBC Group NV boosted its position in O-I Glass by 38.9% during the third quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock valued at $71,000 after buying an additional 1,521 shares during the period. Institutional investors own 97.24% of the company’s stock.

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.