The stock of O-I Glass Inc (NYSE: OI) has increased by 0.31 when compared to last closing price of 16.05. Despite this, the company has experienced a -6.67% fall in its stock price over the last five trading sessions. GlobeNewsWire reported 2024-04-03 that PERRYSBURG, Ohio, April 03, 2024 (GLOBE NEWSWIRE) — O-I Glass, Inc. (NYSE: OI) has scheduled its first quarter 2024 conference call and webcast for Wednesday, May 1, 2024, at 8 a.m. EDT. The Company’s news release for the first quarter 2024 earnings will be issued after the market closes on Tuesday, April 30.
Is It Worth Investing in O-I Glass Inc (NYSE: OI) Right Now?
OI has 36-month beta value of 1.35. Analysts have mixed views on the stock, with 1 analysts rating it as a “buy,” 2 as “overweight,” 10 as “hold,” and 1 as “sell.”
The public float for OI is 150.94M, and currently, short sellers hold a 2.89% ratio of that float. The average trading volume of OI on April 11, 2024 was 1.72M shares.
OI’s Market Performance
OI stock saw a decrease of -6.67% in the past week, with a monthly decline of -2.84% and a quarterly a decrease of 3.67%. The volatility ratio for the week is 4.47%, and the volatility levels for the last 30 days are 3.45% for O-I Glass Inc (OI). The simple moving average for the last 20 days is 1.41% for OI stock, with a simple moving average of -6.46% for the last 200 days.
Analysts’ Opinion of OI
Many brokerage firms have already submitted their reports for OI stocks, with UBS repeating the rating for OI by listing it as a “Buy.” The predicted price for OI in the upcoming period, according to UBS is $26 based on the research report published on January 16, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see OI reach a price target of $18, previously predicting the price at $17. The rating they have provided for OI stocks is “Neutral” according to the report published on January 03rd, 2024.
Barclays gave a rating of “Equal Weight” to OI, setting the target price at $18 in the report published on October 11th of the previous year.
OI Trading at 0.13% from the 50-Day Moving Average
After a stumble in the market that brought OI to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -31.69% of loss for the given period.
Volatility was left at 3.45%, however, over the last 30 days, the volatility rate increased by 4.47%, as shares surge +0.37% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +5.99% upper at present.
During the last 5 trading sessions, OI fell by -6.67%, which changed the moving average for the period of 200-days by -20.14% in comparison to the 20-day moving average, which settled at $15.88. In addition, O-I Glass Inc saw -1.71% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at OI starting from Lopez Andres Alberto, who sale 76,132 shares at the price of $22.54 back on Jun 07 ’23. After this action, Lopez Andres Alberto now owns 1,036,969 shares of O-I Glass Inc, valued at $1,715,756 using the latest closing price.
Lopez Andres Alberto, the President & CEO of O-I Glass Inc, sale 59,174 shares at $22.02 during a trade that took place back on Jun 06 ’23, which means that Lopez Andres Alberto is holding 1,113,101 shares at $1,303,130 based on the most recent closing price.
Stock Fundamentals for OI
Current profitability levels for the company are sitting at:
- 0.12 for the present operating margin
- 0.2 for the gross margin
The net margin for O-I Glass Inc stands at -0.01. The total capital return value is set at 0.11. Equity return is now at value -6.81, with -1.10 for asset returns.
Based on O-I Glass Inc (OI), the company’s capital structure generated 0.75 points at debt to capital in total, while cash flow to debt ratio is standing at 0.17. The debt to equity ratio resting at 3.01. The interest coverage ratio of the stock is 2.44.
Currently, EBITDA for the company is 1.29 billion with net debt to EBITDA at 3.29. When we switch over and look at the enterprise to sales, we see a ratio of 0.95. The receivables turnover for the company is 10.59for trailing twelve months and the total asset turnover is 0.73. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.23.
Conclusion
To put it simply, O-I Glass Inc (OI) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
