Lumen Technologies (NYSE:LUMN) Trading 2.5% Higher

Lumen Technologies, Inc. (NYSE:LUMN) traded up 2.5% during mid-day trading on Friday . The stock traded as high as $5.65 and last traded at $5.64. 4,784,878 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 20,517,316 shares. The stock had previously closed at $5.50.

Analyst Ratings Changes

Several research analysts have recently weighed in on LUMN shares. UBS Group upped their price target on shares of Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Citigroup raised Lumen Technologies from a “sell” rating to a “neutral” rating and raised their price target for the company from $1.25 to $3.15 in a report on Tuesday, August 6th. Bank of America boosted their price objective on Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a report on Thursday, August 8th. TD Cowen raised their target price on shares of Lumen Technologies from $2.50 to $7.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and increased their price target for the stock from $1.00 to $4.00 in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.02.

Lumen Technologies Price Performance

The stock has a market capitalization of $5.85 billion, a PE ratio of -0.52 and a beta of 1.14. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50 day simple moving average is $3.42 and its 200 day simple moving average is $2.09.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.07). Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. The business’s revenue for the quarter was down 10.7% on a year-over-year basis. As a group, equities analysts forecast that Lumen Technologies, Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity at Lumen Technologies

In other news, Director James Fowler bought 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the acquisition, the director now owns 384,056 shares of the company’s stock, valued at $1,805,063.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.68% of the stock is currently owned by company insiders.

Institutional Trading of Lumen Technologies

A number of institutional investors have recently modified their holdings of LUMN. Sawgrass Asset Management LLC raised its holdings in shares of Lumen Technologies by 68.5% during the second quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock valued at $25,000 after acquiring an additional 9,263 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Lumen Technologies in the 2nd quarter worth $25,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Lumen Technologies in the 2nd quarter worth about $26,000. HighPoint Advisor Group LLC bought a new stake in shares of Lumen Technologies during the 4th quarter valued at about $27,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of Lumen Technologies during the second quarter valued at about $33,000. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

About Lumen Technologies

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.