Investors Buy High Volume of Call Options on O-I Glass (NYSE:OI)

O-I Glass, Inc. (NYSE:OI) saw unusually large options trading activity on Wednesday. Traders purchased 10,026 call options on the company. This is an increase of approximately 1,104% compared to the average volume of 833 call options.

O-I Glass Stock Performance

Shares of NYSE:OI traded up $0.06 during trading on Wednesday, hitting $9.69. The stock had a trading volume of 986,688 shares, compared to its average volume of 2,471,899. O-I Glass has a 12-month low of $7.75 and a 12-month high of $16.91. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -7.94, a price-to-earnings-growth ratio of 1.10 and a beta of 0.63. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 3.35. The stock has a 50-day simple moving average of $9.12 and a two-hundred day simple moving average of $11.99.

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 the consensus estimate of $0.09 by ($0.04). O-I Glass had a negative net margin of 2.91% and a positive return on equity of 13.65%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the company earned $0.40 earnings per share. The firm’s revenue was down 1.7% on a year-over-year basis. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. On average, equities research analysts expect that O-I Glass will post 1.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on OI shares. Citigroup reduced their target price on shares of O-I Glass from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Royal Bank Of Canada set a $14.00 target price on O-I Glass in a research report on Friday, April 17th. Truist Financial reiterated 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. Zacks Research cut shares of O-I Glass from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 3rd. Finally, UBS Group dropped their target price on O-I Glass from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.14.

Insider Activity at O-I Glass

In other O-I Glass news, SVP Randolph L. Burns acquired 11,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was purchased at an average price of $9.32 per share, with a total value of $102,520.00. Following the transaction, the senior vice president directly owned 133,932 shares in the company, valued at approximately $1,248,246.24. The trade was a 8.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Darrow A. Abrahams acquired 2,774 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $9.04 per share, with a total value of $25,076.96. Following the completion of the purchase, the senior vice president owned 235,928 shares in the company, valued at $2,132,789.12. This trade represents a 1.19% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 17,083 shares of company stock worth $157,312. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On O-I Glass

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada increased its stake in shares of O-I Glass by 33.9% in the 1st quarter. Royal Bank of Canada now owns 112,800 shares of the industrial products company’s stock valued at $1,294,000 after purchasing an additional 28,548 shares in the last quarter. AQR Capital Management LLC boosted its position in O-I Glass by 154.0% during the first quarter. AQR Capital Management LLC now owns 177,117 shares of the industrial products company’s stock worth $1,993,000 after purchasing an additional 107,388 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in O-I Glass by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,151 shares of the industrial products company’s stock worth $1,057,000 after purchasing an additional 4,055 shares in the last quarter. United Services Automobile Association acquired a new stake in O-I Glass in the first quarter valued at approximately $119,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in O-I Glass by 43.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,279 shares of the industrial products company’s stock valued at $6,036,000 after purchasing an additional 160,649 shares during the period. 97.24% of the stock is currently owned by institutional investors and hedge funds.

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.