In a filing, Corning, Inc. revealed its affiliate Bayne John P JR acquired Company’s shares for reported $0.2 million on Sep 06 ’24. In the deal valued at $40.65 per share,5,000 shares were bought.
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Then, Bayne John P JR sold 7,774 shares, generating $326,741 in total proceeds. Upon selling the shares at $42.03, the Retired Senior Vice President now owns 1,042 shares.
Before that, John Bayne Jr. bought 7,774 shares. Corning, Inc. shares valued at $326,741 were divested by the Officer at a price of $42.03 per share.
Mizuho upgraded its Corning, Inc. [GLW] rating to an Outperform from a a Neutral in a research note published on August 21, 2024; the price target was increased to $47 from $44. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who increased its forecast for the stock in late July from “a Hold” to “a Buy”. HSBC Securities also remained covering GLW and has increased its forecast on July 09, 2024 with a “Hold” recommendation from previously “Reduce” rating. Fox Advisors revised its rating on June 17, 2024. It rated GLW as “an Overweight” which previously was an “an Equal weight”.
Price Performance Review of GLW
On Friday, Corning, Inc. [NYSE:GLW] saw its stock jump 1.53% to $42.50. Over the last five days, the stock has gained 4.58%. Corning, Inc. shares have risen nearly 39.57% since the year began. Nevertheless, the stocks have risen 35.96% over the past one year. While a 52-week high of $46.39 was reached on 07/16/24, a 52-week low of $25.26 was recorded on 01/17/24. SMA at 50 days reached $41.77, while 200 days put it at $35.13.
Levels Of Support And Resistance For GLW Stock
The 24-hour chart illustrates a support level at 42.17, which if violated will result in even more drops to 41.83. On the upside, there is a resistance level at 42.72. A further resistance level may holdings at 42.94. The Relative Strength Index (RSI) on the 14-day chart is 59.66, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.42, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 7.28%. Stochastics %K at 74.31% 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 2024-08-30, dropping by -2.62 million shares to a total of 11.87 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 14.49 million shares. There was a decline of -22.11%, which implies that there is a negative sentiment for the stock.
