Corning, Inc. (NYSE:GLW) shares traded -1.52% lower at $46.02 on Wall Street last session.
GLW stock price is now 9.18% away from the 50-day moving average and 25.78% away from the 200-day moving average. The market capitalization of the company currently stands at $39.38B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target enhanced from $44 to $47, Mizuho Upgraded its rating from Neutral to Outperform for Corning, Inc. (NYSE: GLW). On July 31, 2024, Deutsche Bank Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock keeping its target price maintained at $46, while ‘HSBC Securities’ rates the stock as ‘Hold’
In other news, Bayne John P JR, Retired Senior Vice President sold 5,000 shares of the company’s stock on Sep 13 ’24. The stock was sold for $212,500 at an average price of $42.50. Upon completion of the transaction, the Retired Senior Vice President now directly owns 11,700 shares in the company, valued at $0.54 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 06 ’24, affiliate Bayne John P JR bought 5,000 shares of the business’s stock. A total of $203,250 was incurred on buying the stock at an average price of $40.65. A total of 9.33% of the company’s stock is owned by insiders.
During the past 12 months, Corning, Inc. has had a low of $25.26 and a high of $47.45. As of last week, the company has a debt-to-equity ratio of 0.77, a current ratio of 1.57, and a quick ratio of 0.98. According to the stock market information, the enterprise value for the company is $47106899968, which is based on a 90.81 price-to-earnings ratio, a 6.66 price-to-earnings-growth ratio, and a beta of 1.04. The fifty day moving average price for GLW is $42.1524 and a two-hundred day moving average price translates $36.5883 for the stock.
The latest earnings results from Corning, Inc. (NYSE: GLW) was released for 2024-06-30. The net profit margin was 3.53% and return on equity was 3.97% for GLW. The company reported revenue of $3.25 billion for the quarter, compared to $3.24 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.25 percent.
