O-I Glass, Inc. (NYSE:OI – Get Free Report) saw unusually large options trading activity on Wednesday. Investors purchased 2,354 call options on the company. This represents an increase of approximately 3,039% compared to the average daily volume of 75 call options.
Hedge Funds Weigh In On O-I Glass
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Belpointe Asset Management LLC boosted its stake in shares of O-I Glass by 109.4% in the first quarter. Belpointe Asset Management LLC now owns 1,518 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 793 shares during the period. Covestor Ltd raised its holdings in O-I Glass by 259.7% in the third quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 1,205 shares in the last quarter. Quarry LP raised its holdings in O-I Glass by 499.3% in the first quarter. Quarry LP now owns 1,744 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 1,453 shares in the last quarter. TFO Wealth Partners LLC raised its holdings in O-I Glass by 24,311.1% in the fourth quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 2,188 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in O-I Glass in the first quarter valued at $34,000. Institutional investors and hedge funds own 97.24% of the company’s stock.
O-I Glass Stock Performance
Shares of OI stock opened at $15.42 on Friday. O-I Glass has a one year low of $13.56 and a one year high of $23.57. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.77 and a current ratio of 1.23. The company has a 50 day moving average price of $16.18 and a 200 day moving average price of $15.66. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -20.56, a price-to-earnings-growth ratio of 1.04 and a beta of 1.35.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on OI shares. Barclays boosted their price objective on shares of O-I Glass from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 13th. UBS Group started coverage on shares of O-I Glass in a research report on Tuesday, January 16th. They issued a “buy” rating and a $26.00 price objective for the company. Citigroup lowered shares of O-I Glass from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $17.00 to $18.00 in a research report on Wednesday, January 3rd. Truist Financial reissued a “buy” rating and issued a $20.00 price objective on shares of O-I Glass in a research report on Monday, March 25th. Finally, StockNews.com lowered shares of O-I Glass from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.
Check Out Our Latest Report on O-I Glass
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.
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