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Exec. VP & Chief Strategy Off Evenson Jeffrey W sale 12,830 shares of Corning, Inc. [GLW]

NUE

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Corning, Inc. shares valued at $479,664 were sold by Evenson Jeffrey W on Jun 05 ’24. At $37.39 per share, Evenson Jeffrey W sold 12,830 shares. The insider’s holdings dropped to 57,280 shares worth approximately $2.61 million following the completion of this transaction.

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Also, Bell Michael Alan sold 20,152 shares, netting a total of over 705,320 in proceeds. Following the sale of shares at $35.00 each, the insider now holds 0 shares.

Before that, Seetharam Soumya had sold 23,291 shares from its account. In a trade valued at $792,211, the Senior Vice President & CDIO traded Corning, Inc. shares for $34.01 each. Upon closing the transaction, the insider’s holdings decreased to 23,291 shares, worth approximately $2.27 million.

As published in a research note from HSBC Securities on July 09, 2024, Corning, Inc. [GLW] has been rated up from a Reduce to a Hold and the price target has been revised to $37. Analysts at Fox Advisors upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in mid June. As of June 13, 2024, Morgan Stanley has decreased its “an Overweight” rating to a “an Equal-weight” for GLW. Earlier on May 30, 2024, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for GLW stock which previously was a “a Neutral”.

Analyzing GLW Stock Performance

During the last five days, there has been a surge of approximately 18.47%. Over the course of the year, Corning, Inc. shares have jumped approximately 49.36%. Shares of the company reached a 52-week high of $45.72 on 07/10/24 and a 52-week low of $29.71 on 01/17/24. A 50-day SMA is recorded $37.03, while a 200-day SMA reached $32.07. Nevertheless, trading volume fell to 13.15 million shares from 22.54 million shares the previous day.

Support And Resistance Levels for Corning, Inc. (GLW)

According to the 24-hour chart, there is a support level at 44.91, which, if violated, would cause prices to drop to 44.34. In the upper region, resistance lies at 45.89. The next price resistance is at 46.29. RSI (Relative Strength Index) is 81.54 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.23, which suggests the price will increase in the coming days. Percent R is at 3.12%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.

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