OI Stock Summary and Trading Ideas (O-I Glass | NYSE:OI)

O-I Glass is the world's largest manufacturer of glass bottles; 70% of its revenue comes from outside the United States. O-I has a leading position in key markets such as Europe, North America, and Brazil. Beer is the primary end market for O-I's glass bottles, which are also used for wine, soda, spirits, condiments, and food. O-I is looking to maintain or expand its dominant positions in Europe, North America, and South America.

O-I Glass trades on the NYSE stock market under the symbol OI.

As of May 10, 2024, OI stock price climbed to $13.48 with 882,334 million shares trading.

OI has a beta of 1.38, meaning it tends to be more sensitive to market movements. OI has a correlation of 0.24 to the broad based SPY ETF.

OI has a market cap of $2.07 billion. This is considered a Mid Cap stock.

Last quarter O-I Glass reported $2 billion in Revenue and $.45 earnings per share. This fell short of revenue expectation by $-107 million and exceeded earnings estimates by $.06.

In the last 3 years, OI stock traded as high as $23.57 and as low as $10.64.

The top ETF exchange traded funds that OI belongs to (by Net Assets): IJR, VTI, VB, IWM, VBR.

OI has underperformed the market in the last year with a price return of -35.7% while the SPY ETF gained +27.8%. OI has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -13.1% and -10.6%, respectively, while the SPY returned +4.2% and +2.5%, respectively.

OI support price is $13.07 and resistance is $13.83 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that OI stock will trade within this expected range on the day.