Shares of Corning Incorporated (NYSE:GLW) Sees Large Outflow of Money

Corning Incorporated (NYSE:GLW) : The money flow is calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades, which was negative (6.03 million) in Corning Incorporated (NYSE:GLW). On Wednesday, The value of composite uptick trades was $11 million, whereas, the value of composite downtick trades was $17.02 million and the ratio between the two was 0.65, indicating selling on strength. Traders involved in block trades booked profits in their holdings as seen in the transactions on downticks valued at $5.32 million. $1.66 million was the block trade value on upticks. The ratio between the two was clearly in favor of the bears at 0.31. The negative money flow of ($3.65 million) shows selling on strength. Corning Incorporated (NYSE:GLW) gained $0.34 intraday at $19.72 and registrered 1.73% for the week.


In an insider trading activity, The Securities and Exchange Commission has divulged that Tripeny R Tony, officer (Senior Vice President and CFO) of Corning Inc /Ny, had unloaded 7,500 shares at an average price of $21.17 in a transaction dated on June 7, 2016. The total value of the transaction was worth $158,775. Currently 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 -10.96% . Institutional Investors own 73.61% of Corning Incorporated shares. During last six month period, the net percent change held by insiders has seen a change of -18.06%.

The company shares have dropped -2.12% from its 1 Year high price. On Jun 7, 2016, the shares registered one year high at $21.30 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $20.04 and the 200 Day Moving Average price is recorded at $19.20. Corning Incorporated (NYSE:GLW): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $19.60 and $19.39 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $19.86. The buying momentum continued till the end and the stock did not give up its gains. It closed at $19.81, notching a gain of 2.22% for the day. The total traded volume was 9,259,240 . The stock had closed at $19.38 on the previous day.

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.

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