Lumen Technologies (NYSE:LUMN) Shares Gap Up to $1.11

Lumen Technologies, Inc. (NYSE:LUMN) gapped up prior to trading on Friday . The stock had previously closed at $1.11, but opened at $1.16. Lumen Technologies shares last traded at $1.14, with a volume of 1,953,563 shares traded.

Lumen Technologies Stock Performance

The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -0.10 and a beta of 1.20. The company has a 50-day moving average price of $1.26 and a 200-day moving average price of $1.46. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 36.89.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The firm’s revenue was down 12.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 earnings per share. As a group, equities research analysts forecast that Lumen Technologies, Inc. will post -0.16 earnings per share for the current year.

Insider Activity at Lumen Technologies

In other Lumen Technologies news, CEO Kathleen E. Johnson bought 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average price of $1.28 per share, for a total transaction of $960,000.00. Following the purchase, the chief executive officer now directly owns 7,756,290 shares in the company, valued at $9,928,051.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lumen Technologies

Several hedge funds and other institutional investors have recently modified their holdings of LUMN. Strategies Wealth Advisors LLC acquired a new stake in shares of Lumen Technologies in the 4th quarter valued at $26,000. Brighton Jones LLC acquired a new position in shares of Lumen Technologies in the fourth quarter valued at approximately $27,000. HighPoint Advisor Group LLC acquired a new position in shares of Lumen Technologies in the fourth quarter valued at approximately $27,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Lumen Technologies in the third quarter valued at approximately $30,000. Finally, Fidelis Capital Partners LLC lifted its stake 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 during the last quarter. Institutional investors 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.