Lumen Technologies (NYSE:LUMN) Trading 8.7% Higher – What’s Next?

by · The Markets Daily

Lumen Technologies, Inc. (NYSE:LUMN – Get Free Report) shares traded up 8.7% on Tuesday . The company traded as high as $8.78 and last traded at $9.0150. 2,112,241 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 14,312,231 shares. The stock had previously closed at $8.29.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LUMN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a research report on Wednesday, October 8th. Citigroup cut shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research note on Friday, October 31st. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. The Goldman Sachs Group boosted their price objective on Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Finally, Royal Bank Of Canada increased their target price on Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 25th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.72.

Read Our Latest Stock Report on LUMN

Lumen Technologies Trading Down 8.0%

The company has a market cap of $9.03 billion, a P/E ratio of -5.33 and a beta of 1.42. The firm’s 50 day moving average is $8.10 and its two-hundred day moving average is $5.76. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 59.98.

Lumen Technologies (NYSE:LUMN – Get Free Report) last announced its earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share (EPS) for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 13.02%.The business had revenue of $4.05 billion during the quarter. As a group, equities research analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Institutional Trading of Lumen Technologies

Institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its holdings in Lumen Technologies by 49.1% during the 3rd quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,351 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Lumen Technologies by 132.3% during the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after buying an additional 3,391 shares during the period. MRP Capital Investments LLC raised its stake in Lumen Technologies by 160.0% during the second quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock worth $28,000 after buying an additional 4,000 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Lumen Technologies by 3,527.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock valued at $29,000 after buying an additional 6,456 shares during the period. Finally, Fifth Third Bancorp boosted its position in Lumen Technologies by 24.5% during the third quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock valued at $33,000 after acquiring an additional 1,051 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Company Profile

(Get Free Report)

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.

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