Corning, Inc.’s recent filing unveils that its Retired Vice Chairman McRae Lawrence D unloaded Company’s shares for reported $2.58 million on Mar 21 ’24. In the deal valued at $33.24 per share,77,464 shares were sold. As a result of this transaction, McRae Lawrence D now holds 215,254 shares worth roughly $6.95 million.
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Then, Bayne John P JR sold 4,086 shares, generating $131,613 in total proceeds. Upon selling the shares at $32.21, the SVP &GM, Mobile Consumer Elec. now owns 0 shares.
Before that, Fang Li sold 8,480 shares. Corning, Inc. shares valued at $274,209 were divested by the SVP, Corning Intl & NBD, Solar at a price of $32.34 per share. As a result of the transaction, Fang Li now holds 0 shares, worth roughly $0.0.
HSBC Securities downgraded its Corning, Inc. [GLW] rating to a Reduce from a a Hold in a research note published recently. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who decreased its forecast for the stock in late October from “a Buy” to “a Hold”. JP Morgan also remained covering GLW and has decreased its forecast on October 10, 2023 with a “Neutral” recommendation from previously “an Overweight” rating. UBS revised its rating on July 14, 2023. It rated GLW as “a Neutral” which previously was an “a Buy”.
Price Performance Review of GLW
On Tuesday, Corning, Inc. [NYSE:GLW] saw its stock fall -0.49% to $32.31. Over the last five days, the stock has lost -0.74%. Corning, Inc. shares have risen nearly 6.11% since the year began. Nevertheless, the stocks have fallen -1.64% over the past one year. While a 52-week high of $36.01 was reached on 01/30/24, a 52-week low of $25.26 was recorded on 01/17/24. SMA at 50 days reached $32.02, while 200 days put it at $31.25. A total of 5.45 million shares were traded, compared to the trading of 2.59 million shares in the previous session.
Levels Of Support And Resistance For GLW Stock
The 24-hour chart illustrates a support level at 32.17, which if violated will result in even more drops to 32.03. On the upside, there is a resistance level at 32.57. A further resistance level may holdings at 32.83. The Relative Strength Index (RSI) on the 14-day chart is 48.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.19, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 81.10%. Stochastics %K at 29.92% indicates the stock is a holding.
How much short interest is there in Corning, Inc.?
A steep rise in short interest was recorded in Corning, Inc. stocks on Feb 29, 2024, growing by 1.6 million shares to a total of 10.32 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 8.72 million shares. There was a rise of 15.5%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.21% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.09.
