Lumen Technologies (NYSE:LUMN) Trading 0.8% Higher

Shares of Lumen Technologies, Inc. (NYSE:LUMN) traded up 0.8% on Tuesday . The stock traded as high as $7.54 and last traded at $7.34. 7,162,542 shares were traded during trading, a decline of 65% from the average session volume of 20,607,260 shares. The stock had previously closed at $7.28.

Wall Street Analyst Weigh In

LUMN has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and raised their price target for the stock from $1.00 to $4.00 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upgraded Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. Moffett Nathanson boosted their price objective on Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Bank of America increased their target price on Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a research report on Thursday, August 8th. Finally, TD Cowen boosted their price target on shares of Lumen Technologies from $2.50 to $7.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.02.

Lumen Technologies Stock Up 0.3 %

The company has a market cap of $7.41 billion, a price-to-earnings ratio of -0.67 and a beta of 1.18. 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 stock has a 50-day simple moving average of $4.64 and a 200-day simple moving average of $2.48.

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

Insider Transactions at Lumen Technologies

In other Lumen Technologies news, Director James Fowler bought 10,000 shares of Lumen Technologies stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost 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 approximately $1,805,063.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.68% of the company’s stock.

Institutional Trading of Lumen Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. HighPoint Advisor Group LLC purchased a new stake in shares of Lumen Technologies in the fourth quarter worth approximately $27,000. Sanctuary Advisors LLC acquired a new position in shares of Lumen Technologies during the 2nd quarter worth $25,000. Fidelis Capital Partners LLC lifted its stake in shares of Lumen Technologies by 94.6% in the 1st quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock valued at $35,000 after purchasing an additional 10,764 shares during the last quarter. Sawgrass Asset Management LLC increased 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 buying an additional 9,263 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in shares of Lumen Technologies in the second quarter worth about $26,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

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.