In a filing, Corning, Inc revealed its Chairman and CEO WEEKS WENDELL P unloaded Company’s shares for reported $4.84 million on Oct 31 ’24. In the deal valued at $48.36 per share,100,000 shares were sold. As a result of this transaction, WEEKS WENDELL P now holds 859,364 shares worth roughly $41.56 million.
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Then, Schlesinger Edward A sold 21,948 shares, generating $1,055,078 in total proceeds. Upon selling the shares at $48.07, the Exec. Vice President and CFO now owns 79,907 shares.
Before that, Musser Eric S sold 74,640 shares. Corning, Inc shares valued at $3,628,571 were divested by the President and COO at a price of $48.61 per share. As a result of the transaction, Musser Eric S now holds 182,944 shares, worth roughly $8.85 million.
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 1.62% to $48.36. Over the last five days, the stock has gained 4.56%. Corning, Inc shares have risen nearly 58.82% since the year began. Nevertheless, the stocks have risen 81.40% over the past one year. While a 52-week high of $51.03 was reached on 10/29/24, a 52-week low of $26.41 was recorded on 01/17/24. SMA at 50 days reached $44.52, while 200 days put it at $37.91.
Levels Of Support And Resistance For GLW Stock
The 24-hour chart illustrates a support level at 47.71, which if violated will result in even more drops to 47.06. On the upside, there is a resistance level at 48.71. A further resistance level may holdings at 49.06. The Relative Strength Index (RSI) on the 14-day chart is 62.78, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.92, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 49.91%. Stochastics %K at 43.30% 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 2024-10-15, growing by 0.48 million shares to a total of 11.16 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 10.68 million shares. There was a rise of 4.28%, which implies that there is a positive sentiment for the stock.
