Corning Incorporated (GLW) : The total negative money flow of $8.25 million on Friday indicates selling on strength. The inflow of money on upticks was $11.72 million, compared to $19.97 million outflow on downticks, which confirms distribution in the stock. The up to down ratio was 0.59. The negative money flow of $6.93 million in block trades reveals that the informed traders sold the stock on every bit of price strength. The traded value of the stock on uptick was $1.78 million in a block trade.The transaction value of block trade on downtick was $8.71 million. The uptick to downtick ratio was 0.2. The price action in the Corning Incorporated (GLW) stock suggests that both the bulls and the bears were in equilibrium. The stock traded at $22.77 with a gain of $0.06 , a change of 0.26% over the previous days close. The stock registered 0.44% for the week.
The company Insiders own 0.6% of Corning Incorporated shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -33.33% . Institutional Investors own 74.5% of Corning Incorporated shares. During last six month period, the net percent change held by insiders has seen a change of -13.24%.
In a related news,The officer (Senior Vice President and CFO) of Corning Inc /Ny, Tripeny R Tony sold 15,000 shares at $23 on August 15, 2016. The Insider selling transaction had a total value worth of $345,000. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Corning Incorporated (NYSE:GLW): The stock opened at $22.75 and touched an intraday high of $22.94 on Friday. During the day, the stock corrected to an intraday low of $22.7, however, the bulls stepped in and pushed the price higher to close in the green at $22.77 with a gain of 0.26% for the day. The total traded volume for the day was 5,110,556. The stock had closed at $22.71 in the previous trading session.
On a relative basis, the stock has outperformed the S&P 500 by 0.71% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.44% in the last 1 week, and is up 0.57% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Corning Incorporated (Corning) is engaged in the manufacture of specialty glass and ceramics. The Company creates and makes keystone components that enable systems for consumer electronics, mobile emissions control, optical communications and life sciences. Corning operates in five segments: Display Technologies, which manufactures glass substrates; Optical Communications, which is engaged in providing optical solutions; Environmental Technologies, which manufactures ceramic substrates and filter products; Specialty Materials, which manufactures products that provide more than 150 material formulations for glass, glass ceramics and fluoride crystals, and Life Sciences segment, which is a developer, manufacturer and supplier of scientific laboratory products. The Company manufactures and processes products at approximately 90 plants in 17 countries.