Brokerages Set Lumen Technologies, Inc. (NYSE:LUMN) PT at $4.02

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) has received an average rating of "Reduce" from the eight research firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $4.02.

Several equities research analysts recently issued reports on LUMN shares. Wells Fargo & Company downgraded Lumen Technologies from an "equal weight" rating to an "underweight" rating and boosted their price objective for the company from $1.75 to $4.00 in a report on Friday, August 16th. The Goldman Sachs Group boosted their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Moffett Nathanson upped their price target on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a "sell" rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an "underweight" rating to a "neutral" rating in a research report on Wednesday, August 7th. Finally, Citigroup raised Lumen Technologies from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $1.25 to $3.15 in a report on Tuesday, August 6th.

Insider Activity at Lumen Technologies

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $4.70 per share, with a total value of $47,000.00. Following the completion of the purchase, the director now directly owns 384,056 shares in the company, valued at approximately $1,805,063.20. This represents a 2.67 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.68% of the stock is currently owned by company insiders.

Institutional Trading of Lumen Technologies

A number of large investors have recently added to or reduced their stakes in the company. Concord Wealth Partners grew its holdings in Lumen Technologies by 98.8% in the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company's stock valued at $28,000 after buying an additional 1,992 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Lumen Technologies in the third quarter worth about $36,000. Allspring Global Investments Holdings LLC acquired a new position in Lumen Technologies in the 3rd quarter worth about $46,000. GAMMA Investing LLC grew its stake in shares of Lumen Technologies by 1,901.8% in the third quarter. GAMMA Investing LLC now owns 6,846 shares of the technology company's stock worth $49,000 after purchasing an additional 6,504 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of Lumen Technologies in the 3rd quarter valued at $59,000. Institutional investors and hedge funds own 66.19% of the company's stock.

Lumen Technologies Stock Performance

Shares of LUMN stock traded down $0.09 during trading hours on Friday, hitting $8.54. The company's stock had a trading volume of 11,814,333 shares, compared to its average volume of 19,934,480. The stock has a market cap of $8.67 billion, a PE ratio of -3.98 and a beta of 1.21. The company has a 50 day moving average of $6.88 and a 200 day moving average of $3.95. Lumen Technologies has a 12-month low of $0.97 and a 12-month high of $10.33. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 53.05.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.04). Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.21 billion. During the same quarter in the prior year, the company posted ($0.09) EPS. The business's revenue for the quarter was down 11.5% compared to the same quarter last year. On average, sell-side analysts forecast that Lumen Technologies will post -0.38 EPS for the current fiscal year.

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.