Lumen Technologies (NYSE:LUMN) Trading 3.5% Higher

Lumen Technologies, Inc. (NYSE:LUMN) traded up 3.5% during mid-day trading on Thursday . The company traded as high as $5.60 and last traded at $5.57. 5,567,799 shares were traded during trading, a decline of 73% from the average session volume of 20,523,965 shares. The stock had previously closed at $5.38.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LUMN shares. TD Cowen lifted their price target on shares of Lumen Technologies from $2.50 to $7.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. UBS Group boosted their target price 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. Wells Fargo & Company lowered shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $1.75 to $4.00 in a report on Friday, August 16th. Bank of America boosted their price objective on shares of Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $4.02.

Lumen Technologies Trading Up 6.2 %

The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 39.51. The firm’s 50-day moving average is $3.51 and its 200 day moving average is $2.12. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of -0.53 and a beta of 1.14.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. Lumen Technologies’s revenue was down 10.7% compared to the same quarter last year. On average, equities analysts predict that Lumen Technologies, Inc. will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $4.70 per share, with a total value of $47,000.00. Following the completion of the purchase, the director now directly owns 384,056 shares of the company’s stock, valued at approximately $1,805,063.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LUMN. HighPoint Advisor Group LLC purchased a new position in Lumen Technologies during the 4th quarter valued at $27,000. Sanctuary Advisors LLC purchased a new stake in shares of Lumen Technologies in the second quarter worth about $25,000. Fidelis Capital Partners LLC boosted its position in Lumen Technologies by 94.6% during the first quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock worth $35,000 after purchasing an additional 10,764 shares in the last quarter. Guardian Capital LP boosted its position in Lumen Technologies by 53.5% during the fourth quarter. Guardian Capital LP now owns 22,145 shares of the technology company’s stock worth $41,000 after purchasing an additional 7,717 shares in the last quarter. Finally, Sawgrass Asset Management LLC lifted its position in shares of Lumen Technologies by 68.5% in 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. 66.19% of the stock is owned by hedge funds and other institutional investors.

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.