Cibc World Markets Corp Purchases Shares of 94,732 Lumen Technologies, Inc. (NYSE:LUMN)

Cibc World Markets Corp purchased a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 94,732 shares of the technology company's stock, valued at approximately $503,000.

Other institutional investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in shares of Lumen Technologies in the 3rd quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Lumen Technologies in the third quarter worth $36,000. Smartleaf Asset Management LLC grew its stake in Lumen Technologies by 173.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock valued at $36,000 after purchasing an additional 4,277 shares during the period. R Squared Ltd bought a new stake in shares of Lumen Technologies during the 4th quarter worth $48,000. Finally, HB Wealth Management LLC purchased a new position in shares of Lumen Technologies in the 4th quarter worth about $59,000. 66.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LUMN. Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $4.25 price objective on shares of Lumen Technologies in a research note 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 target price on the stock in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $4.59.

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Lumen Technologies Stock Performance

Shares of Lumen Technologies stock traded down $0.24 during trading hours on Wednesday, reaching $4.17. The company had a trading volume of 19,815,958 shares, compared to its average volume of 18,440,629. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33. The firm has a market cap of $4.22 billion, a PE ratio of -83.28 and a beta of 1.28. The business has a fifty day simple moving average of $4.98 and a 200 day simple moving average of $6.07.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released 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 net margin of 0.42% and a negative return on equity of 46.17%. On average, analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Lumen Technologies 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.