Owens-Illinois (OI) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 6,111,594 to 5,125,038 shares, with 4 days to go before the expiry. The short open interest has decreased by -16.1%, amounting to a reduction of -986,556 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 3.2% of the float of the company. The average daily volume of the stock is 1,219,877 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Owens-Illinois (NYSE:OI): The stock opened at $18.27 on Wednesday but the bulls could not build on the opening and the stock topped out at $18.29 for the day. The stock traded down to $17.80 during the day, due to lack of any buying support eventually closed down at $17.90 with a loss of -2.35% for the day. The stock had closed at $18.33 on the previous day. The total traded volume was 1,512,413 shares.
In a related news, Hardie Gordon, director of Owens Illinois Inc /De/ had purchased 3,400 shares on June 15, 2016 in a transaction. The price per share was $18.65 and the total amount of the disclosed transaction was $63,410.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
Owens-Illinois, Inc. is the manufacturer of glass containers. The Company has approximately 75 glass manufacturing plants in over 21 countries. Its product lines include glass containers for the food and beverage industries. The Company operates in four segments: Europe, North America, South America and Asia Pacific. The Europe segment primarily produces glass containers for beer, wine, champagne, spirits and food markets. The North America segment has glass container manufacturing plants in the United States and Canada. The South America segment primarily produces glass containers for beer, non-alcoholic beverages, spirits, flavored malt beverages, wine, food and pharmaceuticals markets. The Asia Pacific segment primarily produces glass containers for the beer, wine, food and non-alcoholic beverage markets. The Company also produces glass packaging for a variety of food items, soft drinks, teas, juices and pharmaceuticals.