This morning we watched Corning drop -1.1% to a price of $31.33 per share. The large-cap Farm & Heavy Construction Machinery company is now trading -15.71% below its average target price of $37.17. Analysts have set target prices ranging from $30.0 to $42.0 per share for Corning, and have given the stock an average rating of buy.
Corning's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 1.1%. The stock's short ratio is 2.27. The company's insiders own 0.3% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.
Another number to watch is the company's rate of institutional share ownership, which now stands at 71.8%. In conclusion, we believe there is mixed market sentiment regarding Corning.
Institutions Invested in Corning
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2022-12-31 | Vanguard Group, Inc. (The) | 11% | 97,196,146 | $3,045,155,246 |
| 2022-12-31 | Blackrock Inc. | 7% | 55,529,116 | $1,739,727,200 |
| 2022-12-31 | Wellington Management Group, LLP | 4% | 34,942,667 | $1,094,753,754 |
| 2022-12-31 | State Street Corporation | 4% | 30,914,767 | $968,559,647 |
| 2022-12-31 | JP Morgan Chase & Company | 2% | 16,129,090 | $505,324,388 |
| 2022-12-31 | Geode Capital Management, LLC | 2% | 15,502,178 | $485,683,235 |
| 2022-12-31 | Ameriprise Financial, Inc. | 2% | 15,211,992 | $476,591,708 |
| 2022-12-31 | State Farm Mutual Automobile Insurance Co | 2% | 14,528,900 | $455,190,435 |
| 2022-12-31 | Morgan Stanley | 2% | 13,734,071 | $430,288,443 |
| 2022-12-31 | Bank of America Corporation | 1% | 12,655,335 | $396,491,644 |
