Corning, Inc.’s recently made public that its Retired Senior Vice President Bayne John P JR unloaded Company’s shares for reported $0.21 million on Sep 13 ’24. In the deal valued at $42.50 per share,5,000 shares were sold. As a result of this transaction, Bayne John P JR now holds 11,700 shares worth roughly $0.52 million.
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Then, Bayne John P JR bought 5,000 shares, generating $203,250 in total proceeds.
Before that, Bayne John P JR sold 7,774 shares. Corning, Inc. shares valued at $326,741 were divested by the Retired Senior Vice President at a price of $42.03 per share. As a result of the transaction, Bayne John P JR now holds 1,042 shares, worth roughly $46754.54.
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 fall -0.91% to $44.87. Over the last five days, the stock has gained 0.83%. Corning, Inc. shares have risen nearly 47.36% since the year began. Nevertheless, the stocks have risen 49.27% 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 $41.74, while 200 days put it at $35.91.
Levels Of Support And Resistance For GLW Stock
The 24-hour chart illustrates a support level at 44.53, which if violated will result in even more drops to 44.18. On the upside, there is a resistance level at 45.34. A further resistance level may holdings at 45.80. The Relative Strength Index (RSI) on the 14-day chart is 65.72, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.32, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 15.01%. Stochastics %K at 86.97% indicates the stock is a selling.
How much short interest is there in Corning, Inc.?
A steep rise in short interest was recorded in Corning, Inc. stocks on 2024-09-13, dropping by -1.16 million shares to a total of 10.68 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 11.84 million shares. There was a decline of -10.86%, which implies that there is a negative sentiment for the stock.
