Short Interest In Corning Declines 21%

Dec 26 2013, 10:39am CST | by

The most recent short interest data has been released by the NASDAQ for the 12/13/2013 settlement date, which shows a 12,533,203 share decrease in total short interest for Corning, Inc. (NYSE: GLW), to 46,911,944, a decrease of 21.08% since 11/29/2013. Total short interest is just one way to look at short data; another metric that we here at Dividend Channel find particularly useful is the “days to cover” metric because it considers both the total shares short and the average daily volume of shares traded. The number of shares short is then compared to the average daily volume, in order to calculate the total number of trading days (at the average volume) it would take to close out all of the open short positions if every share traded represented a short position being closed. Average daily volume for GLW at the 12/13/2013 settlement increased to 11,632,939, as compared to 8,823,323 at the 11/29/2013 report. That brought “days to cover” down to 4.03, a 40.14% decrease from the 6.74 days to cover calculated at the previous short interest data release.

Start slideshow:
Top 25 S.A.F.E. Dividend Stocks »

The below chart shows the historical “days to cover” for GLW at previous short interest release dates:

A decreased “days to cover” value could indicate that short sellers are no longer expecting the same decline in stock price they once were, or it could also indicate a long bet elsewhere was closed where GLW had been shorted as a hedge.

The chart below shows the one year performance of GLW shares, versus its 200 day moving average. Looking at this chart, GLW’s low point in its 52 week range is $11.75 per share, with $18.07 as the 52 week high point — that compares with a last trade of $17.68.

GLW makes up 3.44% of the Cleantech Portfolio ETF (PZD)

In afternoon trading Thursday, GLW was up about 0.3% on the day.

Source: Forbes Business

 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

NetAppVoice: "Why Can't You Be More Like A Startup?" -- How To Build A Culture Of Agility
NetAppVoice: "Why Can't You Be More Like A Startup?" -- How To Build A Culture Of Agility
Disruptive innovation and disruptive business models are increasingly fashionable. In this business environment, established businesses are often asked, “Why can’t you act more like a startup?” The sad fact is there are...
 
 
Throw Out Your Company's Mission Statement And See Your Team Soar
Throw Out Your Company's Mission Statement And See Your Team Soar
Susan came to us because her company was stuck at the $250 million revenue inflection point. Revenue had risen to $262 million but slid back down, then hovered at $251 million for a few years, and the last year had been...
 
 
'Mad Men' Ad Scan: An Legendary Creative Director Dissects Freddy Rumsen's Accutron Spot
'Mad Men' Ad Scan: An Legendary Creative Director Dissects Freddy Rumsen's Accutron Spot
For all its existential trappings, Mad Men is ultimately a workplace drama about mid-level ad agency.  And that’s the one thing that Don Draper and Friends are good: creating compelling spots To see how this year’s ads...
 
 
Four Bearish Plays For An Overpriced Market
What do you do if the market is 43% overpriced? (The 43% is explained here.) Go to cash. James Montier, bearish market strategist at money manager GMO, is only 30% invested with his own savings. That’s a bit drastic,...
 
 
 

Latest from the Network

'Mad Men' Ad Scan: An Legendary Creative Director Dissects Freddy Rumsen's Accutron Spot
For all its existential trappings, Mad Men is ultimately a workplace drama about mid-level ad agency.  And that’s the one thing that Don Draper and Friends are good: creating compelling spots To see how this year’s ads...
Read more on Business Balla
 
Four Bearish Plays For An Overpriced Market
What do you do if the market is 43% overpriced? (The 43% is explained here.) Go to cash. James Montier, bearish market strategist at money manager GMO, is only 30% invested with his own savings. That’s a bit drastic,...
Read more on Business Balla
 
Legislator Wants To Stop School Choice From Creating Pseudo All-Star Teams
New Jersey’s Interdistrict Public School Choice program allows students to transfer to other, state-approved districts to get themselves, presumably, a better education, as well as take advantage of “specialized and...
Read more on Business Balla
 
United Center Leads Dual Sport Venues With Highest Average Price for Tickets To See Blackhawks and Bulls
As the NHL and NBA playoffs are getting ready to start, arenas all over North America will be preparing to host the extra games. While these venues will enjoy the extra revenue from postseason games, three venues will...
Read more on Business Balla
 
What 'Heaven Is For Real' Has In Common With Horror Movies
The other day, a friend of mine asked why Hollywood makes so many horror movies when most of the people he knows have no desire to see them. The answer is that there is a group of people who will go see horror movies,...
Read more on Business Balla
 
Blizzard's 'Hearthstone' Arrives On iPad Worldwide
After a successful test in a few regions, Blizzard has now released its battle card game, Hearthstone, on Apple's  iPad worldwide. The game has made a splash on PC since an exceptionally popular closed and open beta,...
Read more on Business Balla
 
3 Ways Microsoft Is Rethinking Its Energy Supply
I’m mostly kidding, but maybe we should go back to calling cloud services by one of its earlier names, utility computing. After all, this whole evolution is inspiring high-tech vendors from Apple to eBay to Google to...
Read more on Business Balla
 
Why CIA Director Brennan Visited Kiev: In Ukraine The Covert War Has Begun
Ukraine is on the brink of civil war, Vladimir Putin has said, and he should know because the country is already in the midst of a covert intelligence war. Over the weekend, CIA director John Brennan travelled to Kiev,...
Read more on Business Balla
 
Local Economic Forecasts From a Global/National Perspective
Small business owners attend economic forecast presentations presented by a bank or chamber of commerce. What the business owner always wants to know is what is going to happen in the local economy, but a lot of the...
Read more on Business Balla
 
The Best Cities For Raising A Family
America's Best Cities for Raising a Family Raleigh, N.C., has built a solid economy around financial services, software and energy, a major retail shipping operation and its renowned Research Triangle. The metro area...
Read more on Business Balla
 
 
Auto Balla Sexy Balla Sport Balla TV Balla Politics Balla Movie Balla Apple Balla Business Balla Ad Balla Celebrity Balla