Lumen Technologies (NYSE:LUMN) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Lumen Technologies (NYSE:LUMNFree Report) from an underweight rating to an equal weight rating in a research note released on Friday morning, Marketbeat reports. Wells Fargo & Company currently has $5.00 target price on the technology company’s stock.

Several other equities analysts also recently commented on the company. TD Cowen dropped their target price on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Citigroup increased their target price on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. The Goldman Sachs Group increased their target price on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.78.

View Our Latest Stock Report on LUMN

Lumen Technologies Stock Performance

LUMN opened at $4.68 on Friday. The business has a fifty day simple moving average of $5.34 and a 200 day simple moving average of $6.19. The company has a market capitalization of $4.74 billion, a PE ratio of -93.48 and a beta of 1.28. Lumen Technologies has a 1 year low of $0.97 and a 1 year high of $10.33. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20.

Lumen Technologies (NYSE:LUMNGet Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. Research analysts expect that Lumen Technologies will post -0.87 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC purchased a new position in Lumen Technologies during the 4th quarter valued at approximately $1,139,000. Strategic Financial Concepts LLC grew its holdings in Lumen Technologies by 430.7% during the 4th quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company’s stock valued at $952,000 after buying an additional 145,542 shares in the last quarter. Polianta Ltd purchased a new position in Lumen Technologies during the 4th quarter valued at approximately $692,000. Mariner Investment Group LLC purchased a new position in Lumen Technologies during the 4th quarter valued at approximately $531,000. Finally, Crossmark Global Holdings Inc. purchased a new position in Lumen Technologies during the 3rd quarter valued at approximately $433,000. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Company Profile

(Get Free Report)

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.

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