Lumen Technologies (NYSE:LUMN) Trading Up 5.1%

Lumen Technologies, Inc. (NYSE:LUMN)’s share price traded up 5.1% on Thursday . The stock traded as high as $5.72 and last traded at $5.72. 1,744,752 shares traded hands during trading, a decline of 91% from the average session volume of 20,439,201 shares. The stock had previously closed at $5.44.

Analyst Ratings Changes

A number of research analysts have weighed in on LUMN shares. Bank of America upped their target price on Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a report on Thursday, August 8th. Wells Fargo & Company lowered Lumen Technologies from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $1.75 to $4.00 in a research report on Friday, August 16th. The Goldman Sachs Group raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and upped their target price for the stock from $1.00 to $4.00 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. Finally, Citigroup upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $1.25 to $3.15 in a report on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.02.

Lumen Technologies Trading Up 10.5 %

The firm’s 50 day moving average price is $3.78 and its 200-day moving average price is $2.21. 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 stock has a market cap of $6.10 billion, a P/E ratio of -0.52 and a beta of 1.18.

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

Insider Activity at Lumen Technologies

In related news, Director James Fowler bought 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the purchase, the director now owns 384,056 shares of the company’s stock, valued at $1,805,063.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lumen Technologies

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