Corning, Inc. [NYSE: GLW] loss -1.18% on the last trading session, reaching $30.92 price per share at the time.
If compared to the average trading volume of 4.76M shares, GLW reached a trading volume of 5754152 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $35.01 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.
UBS have made an estimate for Corning, Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 08, 2024. The new note on the price target was released on February 01, 2024, representing the official price target for Corning, Inc. stock. Previously, the target price had yet another drop from $37 to $30, while Deutsche Bank kept a Hold rating on GLW stock. On October 10, 2023, analysts decreased their price target for GLW shares from 43 to 36.
The Average True Range (ATR) for Corning, Inc. is set at 0.56, with the Price to Sales ratio for GLW stock in the period of the last 12 months amounting to 2.10. The Price to Book ratio for the last quarter was 2.19, 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 43.00 with Quick ratio for the last quarter at 1.05.
Trading performance analysis for GLW stock
Corning, Inc. [GLW] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.01. With this latest performance, GLW shares dropped by -4.89% in over the last four-week period, additionally plugging by 10.71% over the last 6 months – not to mention a drop of -11.10% 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 34.52, with the RSI for the last a single of trading hit 28.38, and the three-weeks RSI is set at 39.43 for Corning, Inc. [GLW]. The present Moving Average for the last 50 days of trading for this stock 32.35, while it was recorded at 31.58 for the last single week of trading, and 31.12 for the last 200 days.
Corning, Inc. [GLW]: A deeper dive into fundamental analysis
Corning, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.05 and a Current Ratio set at 1.67.
Corning, Inc. [GLW]: An earnings per share (EPS) analysis
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 7.15%.
An analysis of Institutional ownership at Corning, Inc. [GLW]
The top three institutional holders of GLW stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in GLW stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in GLW stock with ownership which is approximately 5.8386%.
