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 $29.84, up from yesterday’s close by 0.00%. 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 $25.81 Billion. That value represents a market adjusting for revenues that have been growing by 6.50 % 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 $200 Million over the past twelve months. Generally speaking, earnings are expected to grow in coming quarters. Analysts are forecasting earnings of $0.3 on a per share basis this quarter. Perhaps, that suggests something about why 0.49% of the outstanding share supply is held by institutional investors.
It’s important to check the technicals to get a sense of how GLW has been acting. Looking at the stock’s movement on the chart, Corning Incorporated recorded a 52-week high of $35.10. It is now trading 5.26% off that level. The stock is trading $31.38 its 50-day moving average by 1.54%. The stock carved out a 52-week low down at $26.32.
In recent action, Corning Incorporated (GLW) has made a move of +1.32% over the past month, which has come on Strong relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 16.68, 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 2.07% with $855.08 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of GLW.