O-I Glass Inc. [NYSE: OI] traded at a low on 11/02/22, posting a -9.73 loss after which it closed the day’ session at $14.84. The company report on November 1, 2022 that O-I GLASS REPORTS THIRD QUARTER 2022 RESULTS.
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Strong third quarter results exceeded guidance; Raised fourth quarter and full-year 2022 guidance.
The results of the trading session contributed to over 3490215 shares changing hands. Over the past one week, the price volatility of O-I Glass Inc. stands at 4.07% while the volatility over the past one month is 4.37%.
The market cap for OI stock reached $2.32 billion, with 155.68 million shares outstanding and 153.81 million shares in the current float. Compared to the average trading volume of 1.12M shares, OI reached a trading volume of 3490215 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about O-I Glass Inc. [OI]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OI shares is $15.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OI stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for O-I Glass Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on July 11, 2022. While these analysts kept the previous recommendation, BofA Securities raised their target price from $15 to $19. The new note on the price target was released on May 27, 2022, representing the official price target for O-I Glass Inc. stock. Previously, the target price had yet another raise to $14, while BofA Securities analysts kept a Neutral rating on OI stock.
The Average True Range (ATR) for O-I Glass Inc. is set at 0.72, with the Price to Sales ratio for OI stock in the period of the last 12 months amounting to 0.35. The Price to Book ratio for the last quarter was 2.02, with the Price to Cash per share for the same quarter was set at 4.23. Price to Free Cash Flow for OI in the course of the last twelve months was 9.70 with Quick ratio for the last quarter at 1.00.
How has OI stock performed recently?
O-I Glass Inc. [OI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.35. With this latest performance, OI shares gained by 3.63% in over the last four-week period, additionally plugging by 3.49% over the last 6 months – not to mention a rise of 18.06% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OI stock in for the last two-week period is set at 44.35, with the RSI for the last a single of trading hit 35.08, and the three-weeks RSI is set at 48.53 for O-I Glass Inc. [OI]. The present Moving Average for the last 50 days of trading for this stock 14.34, while it was recorded at 16.21 for the last single week of trading, and 13.89 for the last 200 days.
O-I Glass Inc. [OI]: Deeper insight into the fundamentals
O-I Glass Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.50.
Earnings analysis for O-I Glass Inc. [OI]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for O-I Glass Inc. go to 8.07%.
Insider trade positions for O-I Glass Inc. [OI]
There are presently around $2,181 million, or 96.20% of OI stock, in the hands of institutional investors. The top three institutional holders of OI stocks are: BLACKROCK INC. with ownership of 24,366,388, which is approximately -0.312% of the company’s market cap and around 0.30% of the total institutional ownership; FMR LLC, holding 20,471,739 shares of the stock with an approximate value of $303.8 million in OI stocks shares; and VANGUARD GROUP INC, currently with $286.5 million in OI stock with ownership of nearly -0.215% of the company’s market capitalization.
124 institutional holders increased their position in O-I Glass Inc. [NYSE:OI] by around 16,531,611 shares. Additionally, 119 investors decreased positions by around 10,593,685 shares, while 35 investors held positions by with 119,833,735 shares. The mentioned changes placed institutional holdings at 146,959,031 shares, according to the latest SEC report filing. OI stock had 43 new institutional investments in for a total of 8,493,562 shares, while 27 institutional investors sold positions of 1,951,105 shares during the same period.