Lumen Technologies (NYSE:LUMN) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Lumen Technologies (NYSE:LUMN) had its target price lifted by research analysts at The Goldman Sachs Group from $4.50 to $5.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. The Goldman Sachs Group’s target price would suggest a potential downside of 46.87% from the company’s previous close.

LUMN has been the subject of a number of other research reports. JPMorgan Chase & Co. raised Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. Citigroup upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and lifted their price target for the company from $1.25 to $3.15 in a research note on Tuesday, August 6th. Moffett Nathanson increased their price objective on shares of Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Bank of America upped their target price on Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a report on Thursday, August 8th. Finally, TD Cowen raised their price target on Lumen Technologies from $2.50 to $7.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, Lumen Technologies has an average rating of “Hold” and a consensus target price of $4.02.

Lumen Technologies Stock Up 2.4 %

Shares of Lumen Technologies stock traded up $0.22 on Wednesday, hitting $9.41. The company had a trading volume of 6,760,402 shares, compared to its average volume of 19,930,779. Lumen Technologies has a twelve month low of $0.97 and a twelve month high of $9.53. 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 stock has a 50-day moving average of $6.47 and a 200-day moving average of $3.67. The firm has a market capitalization of $9.57 billion, a P/E ratio of -4.37 and a beta of 1.21.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.21 billion. Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. The business’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.09) EPS. Research analysts predict that Lumen Technologies will post -0.59 earnings per share for the current year.

Insiders Place Their Bets

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of the company’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 purchase, the director now owns 384,056 shares in the company, valued at approximately $1,805,063.20. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sawgrass Asset Management LLC grew its position in shares of Lumen Technologies by 68.5% in the second quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock valued at $25,000 after purchasing an additional 9,263 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Lumen Technologies during the 2nd quarter worth $25,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Lumen Technologies during the second quarter worth $26,000. Concord Wealth Partners boosted its position in shares of Lumen Technologies by 98.8% in the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock valued at $28,000 after acquiring an additional 1,992 shares during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of Lumen Technologies in the second quarter valued at about $33,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

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.