KLP Kapitalforvaltning AS Invests $1.04 Million in Lumen Technologies, Inc. (NYSE:LUMN)

KLP Kapitalforvaltning AS purchased a new stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 195,600 shares of the technology company's stock, valued at approximately $1,039,000.

A number of other institutional investors also recently made changes to their positions in the stock. Legacy Investment Solutions LLC acquired a new stake in shares of Lumen Technologies during the third quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Lumen Technologies during the third quarter worth about $36,000. Smartleaf Asset Management LLC raised its position in shares of Lumen Technologies by 173.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock valued at $36,000 after buying an additional 4,277 shares during the last quarter. R Squared Ltd purchased a new position in shares of Lumen Technologies during the fourth quarter valued at approximately $48,000. Finally, HB Wealth Management LLC acquired a new position in Lumen Technologies in the 4th quarter valued at $59,000. 66.19% of the stock is owned by institutional investors and hedge funds.

Lumen Technologies Stock Down 10.1 %

LUMN traded down $0.36 during trading hours on Friday, reaching $3.15. 2,721,123 shares of the stock traded hands, compared to its average volume of 18,932,079. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The firm's fifty day simple moving average is $4.74 and its two-hundred day simple moving average is $5.98. The company has a market cap of $3.22 billion, a price-to-earnings ratio of -62.89 and a beta of 1.29. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33.

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Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating analysts' consensus estimates 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%. As a group, analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LUMN has been the subject of several analyst reports. Citigroup upgraded Lumen Technologies from a "neutral" rating to a "buy" rating and dropped their target price for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Royal Bank of Canada restated a "sector perform" rating and set a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Wells Fargo & Company upgraded Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price objective on the stock in a report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Lumen Technologies has an average rating of "Hold" and an average price target of $4.59.

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.