Corning, Inc. [NYSE: GLW] stock went on a downward path that fall over -0.55% on Monday, amounting to a one-week price decrease of less than -1.73%.
Over the last 12 months, GLW stock dropped by -3.00%. The one-year Corning, Inc. stock forecast points to a potential upside of 6.99. The average equity rating for GLW stock is currently 2.25, trading closer to a bullish pattern in the stock market.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The market cap for the stock reached $27.59 billion, with 820.00 million shares outstanding and 770.78 million shares in the current float. Compared to the average trading volume of 4.71M shares, GLW stock reached a trading volume of 6913376 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Corning, Inc. [GLW]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GLW shares is $34.76 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GLW stock is a recommendation set at 2.25. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
HSBC Securities have made an estimate for Corning, Inc. shares, keeping their opinion on the stock as Reduce, with their previous recommendation back on February 01, 2024. While these analysts kept the previous recommendation, Deutsche Bank dropped their target price from $37 to $30. The new note on the price target was released on October 25, 2023, representing the official price target for Corning, Inc. stock. Previously, the target price had yet another drop from $43 to $36, while JP Morgan kept a Neutral rating on GLW stock. On July 14, 2023, analysts increased their price target for GLW shares from 38 to 39.
The Average True Range (ATR) for Corning, Inc. is set at 0.53, with the Price to Sales ratio for GLW stock in the period of the last 12 months amounting to 2.24. The Price to Book ratio for the last quarter was 2.30, with the Price to Cash per share for the same quarter was set at 2.08. Price to Free Cash Flow for GLW in the course of the last twelve months was 44.87 with Quick ratio for the last quarter at 1.05.
GLW Stock Performance Analysis:
Corning, Inc. [GLW] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.73. With this latest performance, GLW shares gained by 0.94% in over the last four-week period, additionally plugging by 3.52% over the last 6 months – not to mention a drop of -3.00% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GLW stock in for the last two-week period is set at 50.03, with the RSI for the last a single of trading hit 44.88, and the three-weeks RSI is set at 52.64 for Corning, Inc. [GLW]. The present Moving Average for the last 50 days of trading for this stock 31.79, while it was recorded at 32.60 for the last single week of trading, and 31.22 for the last 200 days.
Insight into Corning, Inc. Fundamentals:
Corning, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.05 and a Current Ratio set at 1.67.
GLW Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GLW. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Corning, Inc. go to 7.13%.
Corning, Inc. [GLW] Institutonal Ownership Details
The top three institutional holders of GLW stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in GLW stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GLW stock with ownership which is approximately 5.8325%.
