Raymond James Financial Inc. Invests $1.62 Million in Lumen Technologies, Inc. (NYSE:LUMN)

Raymond James Financial Inc. bought a new stake in Lumen Technologies, Inc. (NYSE:LUMN) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 305,867 shares of the technology company’s stock, valued at approximately $1,624,000.

Several other institutional investors have also recently bought and sold shares of LUMN. Legacy Investment Solutions LLC acquired a new position in shares of Lumen Technologies during the third quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Lumen Technologies during the 3rd quarter valued at $36,000. Smartleaf Asset Management LLC boosted its holdings in Lumen Technologies by 173.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock valued at $36,000 after purchasing an additional 4,277 shares during the period. R Squared Ltd acquired a new stake in Lumen Technologies in the 4th quarter worth $48,000. Finally, HB Wealth Management LLC bought a new position in shares of Lumen Technologies during the 4th quarter worth about $59,000. Institutional investors own 66.19% of the company’s stock.

Wall Street Analyst Weigh In

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

Lumen Technologies Trading Down 2.2 %

LUMN stock opened at $3.84 on Wednesday. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33. 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 business’s 50 day moving average is $4.82 and its 200-day moving average is $6.01. The firm has a market cap of $3.93 billion, a P/E ratio of -76.68 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Equities analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

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.