Lumen Technologies (NYSE:LUMN) Trading Up 9.5%

Lumen Technologies, Inc. (NYSE:LUMN) shares traded up 9.5% during mid-day trading on Thursday . The stock traded as high as $1.67 and last traded at $1.67. 11,624,276 shares changed hands during trading, a decline of 1% from the average session volume of 11,783,319 shares. The stock had previously closed at $1.52.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group began coverage on Lumen Technologies in a research report on Monday, July 1st. They issued a “sell” rating and a $1.00 price objective for the company.

Lumen Technologies Trading Up 7.9 %

The company has a debt-to-equity ratio of 36.89, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50 day moving average is $1.22 and its two-hundred day moving average is $1.38.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, April 30th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.38 billion. Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The company’s quarterly revenue was down 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. As a group, research analysts anticipate that Lumen Technologies, Inc. will post -0.23 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Kathleen E. Johnson bought 750,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was bought at an average price of $1.28 per share, for a total transaction of $960,000.00. Following the completion of the purchase, the chief executive officer now owns 7,756,290 shares of the company’s stock, valued at approximately $9,928,051.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LUMN. Charles Schwab Investment Management Inc. boosted its position in Lumen Technologies by 28.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,304,001 shares of the technology company’s stock valued at $48,136,000 after buying an additional 5,782,249 shares during the last quarter. Palestra Capital Management LLC increased its position in Lumen Technologies by 71.0% in the fourth quarter. Palestra Capital Management LLC now owns 11,167,585 shares of the technology company’s stock worth $20,437,000 after purchasing an additional 4,637,585 shares during the period. Vanguard Group Inc. raised its holdings in Lumen Technologies by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 117,400,489 shares of the technology company’s stock worth $166,709,000 after purchasing an additional 2,404,674 shares during the last quarter. Front Street Capital Management Inc. lifted its position in Lumen Technologies by 30.9% during the 1st quarter. Front Street Capital Management Inc. now owns 8,963,689 shares of the technology company’s stock valued at $13,983,000 after purchasing an additional 2,114,866 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of Lumen Technologies by 798.6% in the 4th quarter. Federated Hermes Inc. now owns 1,438,386 shares of the technology company’s stock valued at $2,632,000 after purchasing an additional 1,278,319 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Company Profile

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.