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 $435,725 were sold by Bayne John P JR on Nov 25 ’24. At $49.09 per share, Bayne John P JR sold 8,876 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, John Bayne Jr. purchased 8,876 shares, netting a total of over 435,634 in proceeds.
Before that, Bayne John P JR had sold 5,000 shares from its account. In a trade valued at $241,954, the Retired Senior Vice President traded Corning, Inc shares for $48.39 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $0.36 million.
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 13.87%. Over the course of the year, Corning, Inc shares have jumped approximately 13.66%. Shares of the company reached a 52-week high of $54.33 on 01/22/25 and a 52-week low of $46.19 on 01/13/25. A 50-day SMA is recorded $48.18, while a 200-day SMA reached $42.14. Nevertheless, trading volume fell to 10.29 million shares from 7.15 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 52.58, which, if violated, would cause prices to drop to 51.14. In the upper region, resistance lies at 54.89. The next price resistance is at 55.76. RSI (Relative Strength Index) is 76.76 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.21, which suggests the price will increase in the coming days. Percent R is at 3.93%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
