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

O-I Glass, Inc. (NYSE:OI) was the target of some unusual options trading activity on Wednesday. Investors bought 2,354 call options on the company. This is an increase of 3,039% compared to the typical volume of 75 call options.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on OI shares. Citigroup raised their price target on O-I Glass from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of O-I Glass in a research report on Wednesday, October 8th. Wells Fargo & Company upgraded O-I Glass from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $15.00 to $18.00 in a research note on Tuesday. Wall Street Zen cut O-I Glass from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 28th. Finally, Zacks Research raised O-I Glass from a “hold” rating to a “strong-buy” rating in a report on Friday, January 2nd. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, O-I Glass presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.56.

Hedge Funds Weigh In On O-I Glass

Large investors have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in shares of O-I Glass in the second quarter valued at about $29,000. Smartleaf Asset Management LLC increased its holdings in O-I Glass by 64.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock valued at $35,000 after buying an additional 918 shares in the last quarter. State of Wyoming acquired a new stake in shares of O-I Glass during the 2nd quarter valued at approximately $35,000. GAMMA Investing LLC boosted its stake in shares of O-I Glass by 31.7% during the 2nd quarter. GAMMA Investing LLC now owns 3,403 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 820 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of O-I Glass in the 2nd quarter worth approximately $51,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Performance

Shares of OI stock opened at $15.17 on Thursday. The company has a current ratio of 1.33, a quick ratio of 0.84 and a debt-to-equity ratio of 3.36. The stock has a 50 day simple moving average of $13.89 and a 200-day simple moving average of $13.58. The company has a market cap of $2.33 billion, a price-to-earnings ratio of -16.13, a price-to-earnings-growth ratio of 0.19 and a beta of 0.77. O-I Glass has a 12-month low of $9.23 and a 12-month high of $16.04.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Wednesday, March 1st. The industrial products company reported $0.36 earnings per share for the quarter. The firm had revenue of $1.59 billion for the quarter. O-I Glass had a positive return on equity of 16.02% and a negative net margin of 2.26%. On average, equities analysts forecast that O-I Glass will post 1.33 EPS for the current year.

About O-I Glass

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.