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Corning, Inc. (GLW) Looks Ready for Growth Despite 46.70% Change This Year

Corning, Inc. (NYSE: GLW) is 46.70% higher on its value in year-to-date trading and has touched a low of $25.26 and a high of $43.58 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The GLW stock was last observed hovering at around $43.05 in the last trading session, with the day’s gains setting it 1.62%.

Currently trading at $44.67, the stock is 15.17% and 22.43% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 22.53 million and changing 3.76% at the moment leaves the stock 39.88% off its SMA200. GLW registered 28.73% gain for a year compared to 6-month gain of 46.12%.

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The stock witnessed a 19.44% loss in the last 1 month and extending the period to 3 months gives it a 38.77%, and is 15.55% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.85% over the week and 2.37% over the month.

Corning, Inc. (GLW) has around 49800 employees, a market worth around $38.27B and $12.38B in sales. Current P/E ratio is 62.61 and Fwd P/E is 19.76. Profit margin for the company is 4.96%. Distance from 52-week low is 76.84% and 2.50% from its 52-week high. The company has generated returns on investments over the last 12 months (3.22%).

The EPS is expected to grow by 13.38% this year.

Corning, Inc. (GLW) Top Institutional Holders

The shares outstanding are 820.00M, and float is at 773.75M with Short Float at 2.49%.

Corning, Inc. (GLW) Insider Activity

The most recent transaction is an insider sale by Evenson Jeffrey W,the company’sExec. VP & Chief Strategy Off. SEC filings show that Evenson Jeffrey W sold 12,830 shares of the company’s common stock on Jun 05 ’24 at a price of $37.39 per share for a total of $0.48 million. Following the sale, the insider now owns 57280.0 shares.

Corning, Inc. disclosed in a document filed with the SEC on May 14 ’24 that Bell Michael Alan (Senior VP & GM, Optical Comm.) sold a total of 20,152 shares of the company’s common stock. The trade occurred on May 14 ’24 and was made at $35.00 per share for $0.71 million. Following the transaction, the insider now directly holds 0.0 shares of the GLW stock.

Still, SEC filings show that on May 09 ’24, Seetharam Soumya (Senior Vice President & CDIO) disposed off 23,291 shares at an average price of $34.01 for $0.79 million. The insider now directly holds 50,000 shares of Corning, Inc. (GLW).

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