Point72 Asia Singapore Pte. Ltd. Invests $36,000 in Lumen Technologies, Inc. (NYSE:LUMN)

Point72 Asia Singapore Pte. Ltd. acquired a new position in Lumen Technologies, Inc. (NYSE:LUMN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,139 shares of the technology company’s stock, valued at approximately $36,000.

Several other hedge funds have also recently bought and sold shares of LUMN. Price T Rowe Associates Inc. MD lifted its position in shares of Lumen Technologies by 4.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 827,518 shares of the technology company’s stock worth $1,291,000 after buying an additional 36,559 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Lumen Technologies by 527.6% in the 2nd quarter. SG Americas Securities LLC now owns 399,656 shares of the technology company’s stock worth $440,000 after purchasing an additional 335,971 shares during the last quarter. Sawgrass Asset Management LLC boosted its position in Lumen Technologies by 68.5% during the second 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. Fifth Third Wealth Advisors LLC acquired a new position in Lumen Technologies during the second quarter valued at approximately $33,000. Finally, Louisiana State Employees Retirement System raised its position in shares of Lumen Technologies by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 510,700 shares of the technology company’s stock valued at $562,000 after purchasing an additional 11,000 shares during the period. 66.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company downgraded shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $1.75 to $4.00 in a report on Friday, August 16th. The Goldman Sachs Group lifted their price objective on Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. TD Cowen decreased their target price on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Finally, Citigroup upped their price target on Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, Lumen Technologies has a consensus rating of “Hold” and an average target price of $4.71.

Lumen Technologies Trading Up 8.2 %

Lumen Technologies stock opened at $7.00 on Friday. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of -3.23 and a beta of 1.21. The business has a 50 day moving average price of $7.21 and a two-hundred day moving average price of $4.66. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 53.05.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The firm’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period last year, the business earned ($0.09) earnings per share. As a group, equities analysts forecast that Lumen Technologies, Inc. will post -0.38 EPS for the current year.

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.