Lumen Technologies (NYSE:LUMN) Trading Down 6% – What’s Next?

by · The Cerbat Gem

Lumen Technologies, Inc. (NYSE:LUMN – Get Free Report) dropped 6% on Tuesday . The company traded as low as $7.55 and last traded at $7.5750. Approximately 3,813,307 shares traded hands during trading, a decline of 73% from the average daily volume of 14,363,396 shares. The stock had previously closed at $8.06.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Raymond James Financial upped their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. 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 report on Friday, October 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group boosted their target price on Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.97.

Check Out Our Latest Stock Analysis on LUMN

Lumen Technologies Price Performance

The business’s 50-day simple moving average is $7.55 and its 200-day simple moving average is $5.44. The stock has a market cap of $8.07 billion, a PE ratio of -6.68 and a beta of 1.45. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 59.98.

Lumen Technologies (NYSE:LUMN – Get Free Report) last posted its earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share (EPS) for the quarter. The company had revenue of $4.05 billion for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%. On average, research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Institutional Trading of Lumen Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. increased its position 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 valued at $25,000 after purchasing an additional 1,351 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Lumen Technologies by 132.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock valued at $26,000 after purchasing an additional 3,391 shares in the last quarter. MRP Capital Investments LLC increased its position in shares of Lumen Technologies by 160.0% during the second quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock valued at $28,000 after buying an additional 4,000 shares during the period. 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 worth $29,000 after buying an additional 6,456 shares during the period. Finally, Fifth Third Bancorp grew its holdings in shares of Lumen Technologies by 24.5% during the 3rd quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock worth $33,000 after acquiring an additional 1,051 shares during the period. Hedge funds and other institutional investors own 66.19% of the company’s stock.

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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