Corning, Inc. [GLW] Stock trading around $35.85 per share: What’s Next?

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Corning, Inc. [NYSE: GLW] plunged by -$0.43 during the normal trading session on while it closed the day at $35.85.

Corning, Inc. stock has also gained 0.93% of its value over the past 7 days. However, GLW stock has inclined by 10.55% in the 3 months of the year. Over the past six months meanwhile, it has gained 27.13% and gained 17.73% year-on date.

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The market cap for GLW stock reached $30.71 billion, with 820.00 million shares outstanding and 773.63 million shares in the current float. Compared to the average trading volume of 4.76M shares, GLW reached a trading volume of 4085001 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $35.86 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 2.39. 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.

Mizuho have made an estimate for Corning, Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 07, 2024. While these analysts kept the previous recommendation, UBS raised their target price from $34 to $35. The new note on the price target was released on April 08, 2024, representing the official price target for Corning, Inc. stock. Previously, the target price had yet another raise to $29, while HSBC Securities analysts kept a Reduce rating on GLW stock. On October 25, 2023, analysts decreased their price target for GLW shares from 37 to 30.

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 2.48. The Price to Book ratio for the last quarter was 2.62, with the Price to Cash per share for the same quarter was set at 1.59. Price to Free Cash Flow for GLW in the course of the last twelve months was 34.51 with Quick ratio for the last quarter at 1.02.

GLW stock trade performance evaluation

Corning, Inc. [GLW] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.93. With this latest performance, GLW shares gained by 14.43% in over the last four-week period, additionally plugging by 27.13% over the last 6 months – not to mention a rise of 15.50% 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 68.35, with the RSI for the last a single of trading hit 66.16, and the three-weeks RSI is set at 67.23 for Corning, Inc. [GLW]. The present Moving Average for the last 50 days of trading for this stock 33.13, while it was recorded at 36.26 for the last single week of trading, and 31.08 for the last 200 days.

Corning, Inc. [GLW]: An insightful look at the core fundamentals

Corning, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.02 and a Current Ratio set at 1.67.

Earnings per share (EPS) analysis for Corning, Inc. [GLW] stock

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 11.57%.

Corning, Inc. [GLW]: Institutional Ownership

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%.

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