O-I Glass Inc (NYSE:OI) price on Friday, January 17, rose 0.77% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $10.42.
A look at the stock’s price movement, the close in the last trading session was $10.34, moving within a range at $10.4 and $10.58. The beta value (5-Year monthly) was 1.206. Turning to its 52-week performance, $17.58 and $9.85 were the 52-week high and 52-week low respectively. Overall, OI moved -6.55% over the past month.
O-I Glass Inc’s market cap currently stands at around $1.61 billion, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 1.6B for the company’s revenue for the quarter, with a low and high estimate of 1.56B and 1.63B respectively. The average forecast suggests down to a -2.60% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 6.6B, representing a -7.11% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that OI is a 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
12 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 5 analyst(s) rate the stock as a Hold, 7 recommend OI as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
OI’s current price about 0.15% and -9.99% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 42.01, while 7-day volatility ratio is 3.21% and 3.92% in the 30-day chart. Further, O-I Glass Inc (OI) has a beta value of 1.22, and an average true range (ATR) of 0.41. Analysts have given the company’s stock an average 52-week price target of $15, forecast between a low of $12 and high of $18. Looking at the price targets, the low is -15.16% off current price level while to achieve the yearly target high, price needs to move -72.74%. Nonetheless, investors will most likely welcome a -43.95% jump to $15 which is the analysts’ median price.
If we refocus on O-I Glass Inc (NYSE:OI), historical trading data shows that trading volumes averaged 1.3 over the past 10 days and 1.47 million over the past 3 months. The company’s latest data on shares outstanding shows there are 154.65 million shares.
The 2.01% of O-I Glass Inc’s shares are in the hands of company insiders while institutional holders own 97.18% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 6.27 million on 2024-12-31, giving us a short ratio of 4.17. The data shows that as of 2024-12-31 short interest in O-I Glass Inc (OI) stood at 690.0 of shares outstanding, with shares short rising to 4.69 million registered in 2024-11-29. Current price change has pushed the stock -3.87% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the OI stock continues to rise going into the next quarter.
