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

Corning Incorporated (GLW) : Net money flow in Corning Incorporated (GLW) was negative ($9.16 million) and the inflow of money on uptick was $15.28 million, whereas, the outflow of money on downticks amounted to $24.44 million on Tuesday. The traders used every opportunity of price strength in the stock to sell their positions, hence, the total uptick to downtick ratio was 0.63. The block trades show that the large investors, were aggressive sellers in the stock. The total value of block trades on upticks was only $2.38 million. On the other hand, the total value of block trades done on downticks was $11.34 million. The ratio of uptick to downtick block trades was 0.21. The money flow in block trades was negative ($8.96). Corning Incorporated (GLW) gained $0.16 cent during the day and reached $22.69, a gain of 0.69% over the previous day.


Also, Equity analysts at the Brokerage firm Citigroup maintains its rating on Corning Incorporated (NYSE:GLW). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Citigroup raises the price target from $23 per share to $26 per share. The rating by the firm was issued on August 26, 2016.

Shares of Corning Inc. rose by 0.33% in the last five trading days and 2.77% for the last 4 weeks. Corning Inc. is up 10.29% in the last 3-month period. Year-to-Date the stock performance stands at 27.08%.

Corning Incorporated (NYSE:GLW): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $22.66 and $22.65 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $22.79. The buying momentum continued till the end and the stock did not give up its gains. It closed at $22.77, notching a gain of 0.35% for the day. The total traded volume was 7,238,386 . The stock had closed at $22.69 on the previous day.

In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Senior Vice President and CFO) of Corning Inc /Ny, Tripeny R Tony had sold 15,000 shares worth of $345,000 in a transaction dated August 15, 2016. In this transaction, 15,000 shares were sold at $23 per share.

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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