Lumen Technologies (NYSE:LUMN) Shares Up 4.1%

Lumen Technologies, Inc. (NYSE:LUMN) shares were up 4.1% during trading on Monday . The stock traded as high as $6.95 and last traded at $6.93. Approximately 4,131,497 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 20,597,424 shares. The stock had previously closed at $6.66.

Analyst Upgrades and Downgrades

LUMN has been the topic of several research reports. The Goldman Sachs Group raised Lumen Technologies from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $1.00 to $4.00 in a research report on Wednesday, August 7th. Moffett Nathanson lifted their price target 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 price objective on Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a report on Thursday, August 8th. Citigroup raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and upped their target price for the stock from $1.25 to $3.15 in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. raised shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $4.02.

Lumen Technologies Trading Up 9.3 %

The company has a market cap of $7.39 billion, a P/E ratio of -0.65 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’s 50 day moving average is $4.52 and its 200-day moving average is $2.44.

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

Insiders Place Their Bets

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $4.70 per share, with a total value of $47,000.00. Following the completion of the acquisition, the director now directly owns 384,056 shares in the company, valued at approximately $1,805,063.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.68% of the company’s stock.

Institutional Investors Weigh In On Lumen Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Sawgrass Asset Management LLC boosted its stake 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 buying an additional 9,263 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Lumen Technologies in the second quarter valued at about $25,000. ANTIPODES PARTNERS Ltd purchased a new position in Lumen Technologies in the second quarter worth about $26,000. HighPoint Advisor Group LLC bought a new stake in shares of Lumen Technologies during the 4th quarter valued at about $27,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Lumen Technologies during the 2nd quarter valued at about $33,000. Institutional investors own 66.19% of the company’s stock.

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.