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

O-I Glass, Inc. (NYSE:OI) was the target of unusually large options trading activity on Wednesday. Stock investors bought 10,026 call options on the company. This represents an increase of 1,104% compared to the average daily volume of 833 call options.

O-I Glass Trading Down 0.3%

Shares of OI traded down $0.03 during mid-day trading on Friday, reaching $9.76. The company had a trading volume of 1,729,331 shares, compared to its average volume of 3,074,253. O-I Glass has a fifty-two week low of $7.75 and a fifty-two week high of $16.91. The firm has a fifty day simple moving average of $9.07 and a 200-day simple moving average of $11.91. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -8.00, a price-to-earnings-growth ratio of 1.10 and a beta of 0.62. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 3.35.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.47 billion. O-I Glass had a positive return on equity of 13.65% and a negative net margin of 2.91%.The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 earnings per share. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. On average, sell-side analysts anticipate that O-I Glass will post 1.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OI. Royal Bank Of Canada set a $14.00 price objective on O-I Glass in a research report on Friday, April 17th. Citigroup reduced their target price on O-I Glass from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Weiss Ratings lowered O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. Truist Financial restated a “buy” rating and issued a $14.00 price target (down from $15.00) on shares of O-I Glass in a report on Thursday, April 30th. Finally, UBS Group dropped their price objective on shares of O-I Glass from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $15.14.

Insider Activity

In other news, SVP Darrow A. Abrahams acquired 2,774 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $9.04 per share, with a total value of $25,076.96. Following the completion of the transaction, the senior vice president directly owned 235,928 shares in the company, valued at approximately $2,132,789.12. This represents a 1.19% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Eduardo Restrepo acquired 3,309 shares of O-I Glass stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average cost of $8.98 per share, for a total transaction of $29,714.82. Following the purchase, the senior vice president directly owned 94,199 shares of the company’s stock, valued at approximately $845,907.02. This trade represents a 3.64% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 17,083 shares of company stock valued at $157,312 over the last 90 days. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On O-I Glass

Several hedge funds and other institutional investors have recently modified their holdings of OI. Farther Finance Advisors LLC grew its holdings in shares of O-I Glass by 87.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 830 shares during the period. Optiver Holding B.V. raised its holdings in O-I Glass by 491.5% in the first quarter. Optiver Holding B.V. now owns 2,496 shares of the industrial products company’s stock valued at $26,000 after buying an additional 2,074 shares during the period. Headlands Technologies LLC purchased a new position in O-I Glass in the second quarter valued at approximately $29,000. Quarry LP acquired a new position in O-I Glass during the fourth quarter valued at approximately $32,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in O-I Glass by 36,533.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after buying an additional 2,192 shares in the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.

O-I Glass Company Profile

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.