Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Corning, Inc. shares valued at $212,500 were sold by Bayne John P JR on Sep 13 ’24. At $42.50 per share, Bayne John P JR sold 5,000 shares. The insider’s holdings dropped to 11,700 shares worth approximately $0.52 million following the completion of this transaction.
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Also, Bayne John P JR purchased 5,000 shares, netting a total of over 203,250 in proceeds.
Before that, Bayne John P JR had sold 7,774 shares from its account. In a trade valued at $326,741, the Retired Senior Vice President traded Corning, Inc. shares for $42.03 each. Upon closing the transaction, the insider’s holdings decreased to 7,774 shares, worth approximately $46296.06.
As published in a research note from Mizuho on August 21, 2024, Corning, Inc. [GLW] has been rated up from a Neutral to an Outperform and the price target has been revised to $47 from $44. Analysts at Deutsche Bank upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late July. As of July 09, 2024, HSBC Securities has increased its “Reduce” rating to a “Hold” for GLW. Earlier on June 17, 2024, Fox Advisors upgraded its rating. Their new recommendation was “an Overweight” for GLW stock which previously was a “an Equal weight”.
Analyzing GLW Stock Performance
During the last five days, there has been a surge of approximately 6.14%. Over the course of the year, Corning, Inc. shares have jumped approximately 45.91%. Shares of the company reached a 52-week high of $46.39 on 07/16/24 and a 52-week low of $29.71 on 01/17/24. A 50-day SMA is recorded $41.82, while a 200-day SMA reached $35.44. Nevertheless, trading volume fell to 7.45 million shares from 3.85 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 43.71, which, if violated, would cause prices to drop to 42.99. In the upper region, resistance lies at 45.20. The next price resistance is at 45.97. RSI (Relative Strength Index) is 70.20 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.70, which suggests the price will increase in the coming days. Percent R is at 16.68%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
