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 $440,242 were purchased by Fang Li on Oct 30 ’24. At $48.03 per share, Fang Li acquired 9,166 shares.
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Also, Edward Schlesinger purchased 21,948 shares, netting a total of over 1,054,943 in proceeds.
Before that, Eric Musser had added 74,640 shares to its account. In a trade valued at $3,628,364, the Officer bought Corning, Inc. shares for $48.61 each.
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 2.45%. Over the course of the year, Corning, Inc. shares have jumped approximately 57.77%. Shares of the company reached a 52-week high of $51.03 on 10/29/24 and a 52-week low of $29.71 on 01/17/24. A 50-day SMA is recorded $44.27, while a 200-day SMA reached $37.73. Nevertheless, trading volume fell to 7.94 million shares from 13.4 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 47.53, which, if violated, would cause prices to drop to 47.01. In the upper region, resistance lies at 48.96. The next price resistance is at 49.87. RSI (Relative Strength Index) is 62.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.08, which suggests the price will increase in the coming days. Percent R is at 55.89%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
