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Fox Advisors gives an Overweight recommendation for Corning, Inc. (GLW)

Corning, Inc.’s filing revealed that its Exec. VP & Chief Strategy Off Evenson Jeffrey W unloaded Company’s shares for reported $0.48 million on Jun 05 ’24. In the deal valued at $37.39 per share,12,830 shares were sold. As a result of this transaction, Evenson Jeffrey W now holds 57,280 shares worth roughly $2.2 million.

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Then, Bell Michael Alan sold 20,152 shares, generating $705,320 in total proceeds. Upon selling the shares at $35.00, the Senior VP & GM, Optical Comm. now owns 0 shares.

Before that, Seetharam Soumya sold 23,291 shares. Corning, Inc. shares valued at $792,211 were divested by the Senior Vice President & CDIO at a price of $34.01 per share. As a result of the transaction, Seetharam Soumya now holds 50,000 shares, worth roughly $1.92 million.

Fox Advisors upgraded its Corning, Inc. [GLW] rating to an Overweight from a an Equal weight in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in mid June from “an Overweight” to “an Equal-weight”. JP Morgan also remained covering GLW and has increased its forecast on May 30, 2024 with a “an Overweight” recommendation from previously “Neutral” rating. Mizuho started covering the stock on May 07, 2024. It rated GLW as “a Neutral”.

Price Performance Review of GLW

On Tuesday, Corning, Inc. [NYSE:GLW] saw its stock fall -0.70% to $38.39. Over the last five days, the stock has lost -3.47%. Corning, Inc. shares have risen nearly 26.08% since the year began. Nevertheless, the stocks have risen 9.56% over the past one year. While a 52-week high of $40.46 was reached on 06/21/24, a 52-week low of $25.26 was recorded on 01/17/24. SMA at 50 days reached $35.98, while 200 days put it at $31.81. A total of 6.25 million shares were traded, compared to the trading of 4.14 million shares in the previous session.

Levels Of Support And Resistance For GLW Stock

The 24-hour chart illustrates a support level at 38.06, which if violated will result in even more drops to 37.73. On the upside, there is a resistance level at 38.81. A further resistance level may holdings at 39.23. The Relative Strength Index (RSI) on the 14-day chart is 54.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.27, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 60.65%. Stochastics%K at 50.40% indicates the stock is a holding.

The most recent change occurred on April 08, 2024 when UBS resumed its ‘”a Neutral”‘ rating for the stock and retained the price target to $35.

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