Lumen Technologies (NYSE:LUMN) Shares Up 4.8%

Shares of Lumen Technologies, Inc. (NYSE:LUMN) were up 4.8% during trading on Wednesday . The company traded as high as $5.34 and last traded at $5.25. Approximately 16,065,045 shares were traded during trading, a decline of 19% from the average daily volume of 19,744,410 shares. The stock had previously closed at $5.01.

Analyst Ratings Changes

A number of research analysts have recently commented on LUMN shares. Moffett Nathanson upped their price target on Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Wells Fargo & Company lowered Lumen Technologies from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $1.75 to $4.00 in a report on Friday. UBS Group upped their price target on Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. upgraded Lumen Technologies from an “underweight” rating to a “neutral” rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group upgraded Lumen Technologies from a “sell” rating to a “neutral” rating and upped their target price for the company from $1.00 to $4.00 in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $3.58.

Lumen Technologies Stock Up 5.5 %

The company has a debt-to-equity ratio of 36.89, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $2.16 and a 200-day simple moving average of $1.69. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of -0.55 and a beta of 1.14.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data 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 positive return on equity of 4.06% and a negative net margin of 76.21%. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the prior year, the company earned $0.10 earnings per share. The business’s revenue was down 10.7% compared to the same quarter last year. On average, sell-side analysts forecast that Lumen Technologies, Inc. will post -0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Sawgrass Asset Management LLC grew its holdings in shares of Lumen Technologies by 68.5% during the second 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. ANTIPODES PARTNERS Ltd bought a new stake in shares of Lumen Technologies during the second quarter worth $26,000. Brighton Jones LLC bought a new position in Lumen Technologies in the fourth quarter valued at about $27,000. HighPoint Advisor Group LLC bought a new position in Lumen Technologies in the fourth quarter valued at about $27,000. Finally, Fifth Third Wealth Advisors LLC bought a new position in Lumen Technologies in the second quarter valued at about $33,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

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.