Lumen Technologies Sees Unusually Large Options Volume (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN) was the recipient of unusually large options trading on Wednesday. Investors purchased 77,816 call options on the stock. This is an increase of 341% compared to the typical volume of 17,655 call options.

Lumen Technologies Trading Down 2.0 %

Shares of NYSE:LUMN opened at $4.09 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The stock has a market capitalization of $4.14 billion, a PE ratio of -81.68 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 firm has a fifty day moving average price of $4.92 and a 200 day moving average price of $6.05.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping 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%. Analysts expect that Lumen Technologies will post -0.87 EPS for the current fiscal year.

Institutional Trading of Lumen Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LUMN. Geode Capital Management LLC boosted its holdings in Lumen Technologies by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock valued at $165,776,000 after purchasing an additional 383,693 shares during the period. Northern Trust Corp lifted its stake in shares of Lumen Technologies by 8.6% in the fourth quarter. Northern Trust Corp now owns 12,354,499 shares of the technology company’s stock valued at $65,602,000 after buying an additional 982,206 shares during the period. Norges Bank bought a new stake in shares of Lumen Technologies in the fourth quarter valued at about $63,638,000. Renaissance Technologies LLC grew its position in Lumen Technologies by 76.3% during the fourth quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company’s stock worth $61,936,000 after buying an additional 5,049,709 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Lumen Technologies by 368.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company’s stock valued at $52,111,000 after acquiring an additional 7,717,596 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LUMN. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.25 target price on shares of Lumen Technologies in a research note on Monday, February 10th. Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective on the stock in a research report on Friday, February 21st. Finally, Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and cut their target price for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.59.

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.