Lumen Technologies (NYSE:LUMN) Trading Down 8.7% – Time to Sell?

Lumen Technologies, Inc. (NYSE:LUMN) was down 8.7% during mid-day trading on Tuesday . The company traded as low as $4.61 and last traded at $4.44. Approximately 1,649,783 shares traded hands during trading, a decline of 91% from the average daily volume of 18,313,282 shares. The stock had previously closed at $4.86.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LUMN shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price for the company in a report on Friday, February 21st. Finally, Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and decreased their target price for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.59.

Lumen Technologies Price Performance

The stock’s 50-day simple moving average is $5.00 and its two-hundred day simple moving average is $6.08. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of -92.08 and a beta of 1.28. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. Equities research analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Lumen Technologies in the 4th quarter valued at about $63,638,000. Hennessy Advisors Inc. acquired a new stake in shares of Lumen Technologies in the 4th quarter worth $45,089,000. Dimensional Fund Advisors LP increased its stake in shares of Lumen Technologies by 368.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company’s stock worth $52,111,000 after acquiring an additional 7,717,596 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Lumen Technologies by 76.3% during the 4th quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company’s stock worth $61,936,000 after acquiring an additional 5,049,709 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Lumen Technologies by 474.8% in the fourth quarter. Millennium Management LLC now owns 5,744,368 shares of the technology company’s stock valued at $30,503,000 after purchasing an additional 4,745,040 shares during the period. 66.19% of the stock is owned by institutional investors and hedge funds.

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.