Taking a Fresh Look at Corning Incorporated (GLW)

Corning Incorporated (GLW) is an interesting player in the Technology space, with a focus on Diversified Electronics. The stock has been active on the tape, currently trading at $33.76, up from yesterday’s close by 1.29%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

Corning Incorporated (GLW) currently trades with a market capitalization of $29.44 Billion. That value represents a market adjusting for revenues that have been growing by 3.99 % on a quarterly year/year basis as of the company’s last quarterly report.

You can get a sense of how sustainable that is by a levered free cash flow of $979 Million over the past twelve months. Generally speaking, earnings are expected to fall in coming quarters. Analysts are forecasting earnings of $0.47 on a per share basis this quarter. Perhaps, that suggests something about why 0.45% of the outstanding share supply is held by institutional investors.

Technical Analysis

We’ve taken a serious look at this stock from a fundamental perspective, but the tale of the tape may offer more hints about what lies under the surface. Looking at the stock’s movement on the chart, Corning Incorporated recorded a 52-week high of $33.92. It is now trading 0.16% off that level. The stock is trading $32.25 its 50-day moving average by -1.51%. The stock carved out a 52-week low down at $24.13.

In recent action, Corning Incorporated (GLW) has made a move of +3.43% over the past month, which has come on weak relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 21.04, and it’s gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 3.22% with $866.69 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of GLW.

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