Lumen Technologies (NYSE:LUMN) Trading 5.6% Higher - Here's Why

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report)'s stock price rose 5.6% during mid-day trading on Monday . The company traded as high as $4.98 and last traded at $4.99. Approximately 3,385,719 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 11,849,454 shares. The stock had previously closed at $4.72.

Analysts Set New Price Targets

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

Lumen Technologies Stock Performance

The firm has a market capitalization of $5.40 billion, a PE ratio of -106.48 and a beta of 1.28. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. The company's fifty day moving average price is $5.12 and its two-hundred day moving average price is $6.13.

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Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate 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%. As a group, equities analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Institutional Trading of Lumen Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Legacy Investment Solutions LLC acquired a new stake in Lumen Technologies during the 3rd quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Lumen Technologies during the 3rd quarter worth approximately $36,000. Smartleaf Asset Management LLC grew its position in 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 acquiring an additional 4,277 shares in the last quarter. Lazard Asset Management LLC grew its position in Lumen Technologies by 3,825.7% in the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company's stock valued at $39,000 after acquiring an additional 7,307 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Lumen Technologies in the fourth quarter valued at approximately $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.