After this morning's 3.3% surge to $53.23 per share, Corning might just keep moving past its target price of $53.21. With an average analyst rating of buy, and target prices from $37.0 to $60.0, the stock's next move is anyone's guess.
Corning's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 1.3%. The stock's short ratio is 2.79. The company's insiders own 8.95% 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 72.9%. In conclusion, we believe there is positive market sentiment regarding Corning.
Institutions Invested in Corning
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-09-30 | Vanguard Group Inc | 12% | 98,986,719 | $5,269,063,007 |
| 2024-09-30 | Blackrock Inc. | 7% | 61,285,239 | $3,262,213,243 |
| 2024-09-30 | Wellington Management Group, LLP | 5% | 39,225,452 | $2,087,970,792 |
| 2024-09-30 | State Street Corporation | 4% | 33,983,090 | $1,808,919,865 |
| 2024-09-30 | Price (T.Rowe) Associates Inc | 4% | 31,952,427 | $1,700,827,674 |
| 2024-09-30 | Geode Capital Management, LLC | 2% | 17,936,924 | $954,782,456 |
| 2024-09-30 | JP Morgan Chase & Company | 2% | 15,218,820 | $810,097,781 |
| 2024-09-30 | Morgan Stanley | 2% | 14,320,028 | $762,255,083 |
| 2024-09-30 | State Farm Mutual Automobile Insurance Co | 2% | 14,031,382 | $746,890,457 |
| 2024-09-30 | Bank of America Corporation | 2% | 13,943,467 | $742,210,742 |
