O-I Glass, Inc. (NYSE:OI) Short Interest Update

O-I Glass, Inc. (NYSE:OI) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 4,610,000 shares, a decrease of 19.3% from the August 15th total of 5,710,000 shares. Based on an average trading volume of 1,840,000 shares, the days-to-cover ratio is currently 2.5 days. Approximately 3.0% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

OI has been the subject of a number of recent research reports. UBS Group cut their price objective on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Wells Fargo & Company reduced their price target on O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup reduced their target price on O-I Glass from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, July 8th. Finally, Truist Financial reiterated a “buy” rating and set a $16.00 price objective (down from $17.00) on shares of O-I Glass in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, O-I Glass presently has an average rating of “Moderate Buy” and an average price target of $16.25.

Insider Buying and Selling at O-I Glass

In other news, Director John Humphrey purchased 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average cost of $11.30 per share, with a total value of $169,500.00. Following the acquisition, the director now owns 84,227 shares in the company, valued at approximately $951,765.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.49% of the company’s stock.

Institutional Investors Weigh In On O-I Glass

Several hedge funds have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. lifted its holdings in shares of O-I Glass by 1,337.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 2,675 shares during the period. Fidelis Capital Partners LLC acquired a new position in O-I Glass during the 1st quarter worth about $33,000. TFO Wealth Partners LLC grew its position in shares of O-I Glass by 24,311.1% in the 4th quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock valued at $36,000 after buying an additional 2,188 shares during the last quarter. FinTrust Capital Advisors LLC bought a new position in shares of O-I Glass during the first quarter worth about $38,000. Finally, Headlands Technologies LLC acquired a new position in shares of O-I Glass in the first quarter worth approximately $39,000. 97.24% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Price Performance

OI stock traded up $0.02 during trading on Tuesday, reaching $12.94. 556,965 shares of the company were exchanged, compared to its average volume of 1,732,683. O-I Glass has a twelve month low of $10.08 and a twelve month high of $18.50. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.26 and a quick ratio of 0.75. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -8.13, a P/E/G ratio of 1.72 and a beta of 1.17. The company has a 50-day moving average of $11.93 and a two-hundred day moving average of $13.18.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. O-I Glass’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter last year, the business posted $0.88 EPS. As a group, equities analysts predict that O-I Glass will post 1.13 earnings per share for the current fiscal year.

O-I Glass Company Profile

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.