Lumen Technologies (NYSE:LUMN) Shares Up 4.5%

Lumen Technologies, Inc. (NYSE:LUMN)’s stock price traded up 4.5% on Friday . The company traded as high as $7.25 and last traded at $7.25. 2,697,620 shares were traded during mid-day trading, a decline of 87% from the average session volume of 20,546,105 shares. The stock had previously closed at $6.94.

Analyst Ratings Changes

LUMN has been the topic of several recent analyst reports. UBS Group upped their price objective on shares of Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group raised Lumen Technologies from a “sell” rating to a “neutral” rating and increased their price target for the stock from $1.00 to $4.00 in a research note on Wednesday, August 7th. Bank of America lifted their price objective on Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a research report on Thursday, August 8th. Wells Fargo & Company downgraded Lumen Technologies from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $1.75 to $4.00 in a research report on Friday, August 16th. Finally, TD Cowen upped their price objective on shares of Lumen Technologies from $2.50 to $7.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $4.02.

Lumen Technologies Stock Up 5.6 %

The stock has a fifty day moving average of $4.98 and a two-hundred day moving average of $2.58. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of -0.68 and a beta of 1.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 39.51.

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

Insider Activity at Lumen Technologies

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the purchase, the director now owns 384,056 shares in the company, valued at approximately $1,805,063.20. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.68% of the company’s stock.

Institutional Trading of Lumen Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Sawgrass Asset Management LLC increased its position in shares of Lumen Technologies by 68.5% in the 2nd quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock worth $25,000 after purchasing an additional 9,263 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Lumen Technologies during the 2nd quarter valued at approximately $25,000. ANTIPODES PARTNERS Ltd bought a new position in Lumen Technologies during the second quarter worth $26,000. HighPoint Advisor Group LLC acquired a new position in Lumen Technologies in the fourth quarter worth $27,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in Lumen Technologies during the second quarter valued at $33,000. 66.19% of the stock is owned by institutional investors and hedge funds.

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.