Lumen Technologies Target of Unusually High Options Trading (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN) was the target of some unusual options trading activity on Monday. Stock investors bought 78,615 call options on the company. This is an increase of approximately 39% compared to the average volume of 56,695 call options.

Insider Buying and Selling at Lumen Technologies

In other news, Director James Fowler purchased 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $4.70 per share, with a total value of $47,000.00. Following the completion of the transaction, the director now owns 384,056 shares of the company’s stock, valued at $1,805,063.20. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.68% of the company’s stock.

Institutional Trading of Lumen Technologies

Several institutional investors have recently made changes to their positions in the company. Greenleaf Trust bought a new position in Lumen Technologies during the third quarter valued at about $99,000. Sequoia Financial Advisors LLC bought a new position in Lumen Technologies during the third quarter valued at about $10,062,000. Allspring Global Investments Holdings LLC bought a new position in Lumen Technologies during the third quarter valued at about $46,000. AlphaMark Advisors LLC grew its position in Lumen Technologies by 1,458.9% during the third quarter. AlphaMark Advisors LLC now owns 77,073 shares of the technology company’s stock valued at $547,000 after buying an additional 72,129 shares during the period. Finally, Cornerstone Wealth Management LLC grew its position in Lumen Technologies by 25.8% during the third quarter. Cornerstone Wealth Management LLC now owns 21,936 shares of the technology company’s stock valued at $156,000 after buying an additional 4,500 shares during the period. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Price Performance

LUMN opened at $6.14 on Wednesday. Lumen Technologies has a 1 year low of $0.78 and a 1 year high of $7.83. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of -0.56 and a beta of 1.19. The firm’s fifty day moving average price is $6.14 and its two-hundred day moving average price is $3.19.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share (EPS) 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 firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the company earned $0.10 EPS. The business’s revenue was down 10.7% compared to the same quarter last year. As a group, analysts anticipate that Lumen Technologies will post -0.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LUMN has been the topic of several research reports. Moffett Nathanson upped their price objective on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. The Goldman Sachs Group upped their price objective on shares of Lumen Technologies from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Friday, October 4th. Wells Fargo & Company lowered shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $1.75 to $4.00 in a report on Friday, August 16th. 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 report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.09.

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.