Lumen Technologies (NYSE:LUMN) Shares Down 1.1%

Shares of Lumen Technologies, Inc. (NYSE:LUMN) fell 1.1% on Wednesday . The company traded as low as $5.15 and last traded at $5.30. 3,204,295 shares were traded during trading, a decline of 84% from the average session volume of 20,496,787 shares. The stock had previously closed at $5.36.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. The Goldman Sachs Group raised Lumen Technologies from a “sell” rating to a “neutral” rating and upped their target price for the stock from $1.00 to $4.00 in a report on Wednesday, August 7th. UBS Group raised their price objective on shares of Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. Bank of America upped their price target on shares of Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a research report on Thursday, August 8th. Finally, Moffett Nathanson lifted their price target on shares of Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.02.

Lumen Technologies Stock Performance

The company has a debt-to-equity ratio of 39.51, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50 day moving average price is $3.88 and its 200 day moving average price is $2.23. The company has a market capitalization of $6.10 billion, a P/E ratio of -0.55 and a beta of 1.18.

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

Insiders Place Their Bets

In related news, Director James Fowler bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the transaction, the director now directly owns 384,056 shares of the company’s stock, valued at $1,805,063.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Lumen Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LUMN. HighPoint Advisor Group LLC acquired a new position in Lumen Technologies during the fourth quarter worth $27,000. Sanctuary Advisors LLC acquired a new stake in shares of Lumen Technologies in the 2nd quarter worth about $25,000. Fidelis Capital Partners LLC lifted its position in Lumen Technologies by 94.6% in the 1st quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock valued at $35,000 after acquiring an additional 10,764 shares in the last quarter. Sawgrass Asset Management LLC increased its holdings in Lumen Technologies by 68.5% during the 2nd 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 in the last quarter. Finally, ANTIPODES PARTNERS Ltd bought a new stake in Lumen Technologies during the 2nd quarter worth approximately $26,000. 66.19% of the stock is owned by institutional investors.

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.