Lumen Technologies Sees Unusually Large Options Volume (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) was the target of some unusual options trading on Wednesday. Stock traders bought 77,816 call options on the company. This represents an increase of approximately 341% compared to the average volume of 17,655 call options.

Lumen Technologies Price Performance

Shares of NYSE LUMN traded down $0.16 on Friday, hitting $3.94. The company's stock had a trading volume of 15,867,606 shares, compared to its average volume of 18,889,286. The stock has a 50 day moving average of $4.89 and a 200-day moving average of $6.04. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of -78.84 and a beta of 1.28. Lumen Technologies has a 12-month low of $0.97 and a 12-month high of $10.33. 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 (NYSE:LUMN - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping 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, research analysts predict that Lumen Technologies will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

LUMN has been the topic of a number of research reports. Royal Bank of Canada restated a "sector perform" rating and set a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Wells Fargo & Company raised 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 cut their price target for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Lumen Technologies has a consensus rating of "Hold" and a consensus target price of $4.59.

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Hedge Funds Weigh In On Lumen Technologies

A number of institutional investors have recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in Lumen Technologies in the 3rd quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Lumen Technologies during the third quarter worth about $36,000. Smartleaf Asset Management LLC boosted 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 worth $36,000 after buying an additional 4,277 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Lumen Technologies by 3,825.7% in the 4th quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company's stock valued at $39,000 after buying an additional 7,307 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Lumen Technologies during the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 66.19% of the company's stock.

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.