Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report)'s stock price rose 7.4% on Wednesday . The stock traded as high as $5.86 and last traded at $5.89. Approximately 4,417,680 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 7,885,958 shares. The stock had previously closed at $5.48.
Wall Street Analyst Weigh In
A number of research firms have issued reports on LUMN. The Goldman Sachs Group boosted their target price on Lumen Technologies from $4.50 to $5.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. TD Cowen dropped their price objective on shares of Lumen Technologies from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Wednesday, November 6th. Royal Bank of Canada reissued a "sector perform" rating and issued a $4.25 price objective (up previously from $4.00) on shares of Lumen Technologies in a research report on Friday, December 20th. Finally, Citigroup boosted their price target on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a "neutral" rating in a research report on Friday, November 29th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $4.66.
Get Our Latest Stock Report on Lumen Technologies
Lumen Technologies Price Performance
The business has a 50 day simple moving average of $6.42 and a 200-day simple moving average of $5.72. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market cap of $5.84 billion, a P/E ratio of -2.65 and a beta of 1.28.
Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its 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 net margin of 16.06% and a negative return on equity of 49.74%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the previous year, the firm earned ($0.09) EPS. The company's revenue was down 11.5% compared to the same quarter last year. On average, sell-side analysts forecast that Lumen Technologies, Inc. will post -0.38 EPS for the current year.
Institutional Trading of Lumen Technologies
Several institutional investors and hedge funds have recently made changes to their positions in LUMN. Stephens Inc. AR boosted its stake in Lumen Technologies by 7.7% in the third quarter. Stephens Inc. AR now owns 27,070 shares of the technology company's stock worth $192,000 after buying an additional 1,935 shares in the last quarter. Concord Wealth Partners boosted its stake in shares of 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 purchasing an additional 1,992 shares in the last quarter. US Bancorp DE grew its holdings in shares of Lumen Technologies by 18.6% during the 3rd quarter. US Bancorp DE now owns 15,012 shares of the technology company's stock valued at $107,000 after purchasing an additional 2,350 shares during the last quarter. Xponance Inc. grew its stake in shares of Lumen Technologies by 4.0% during the second quarter. Xponance Inc. now owns 64,444 shares of the technology company's stock valued at $71,000 after buying an additional 2,487 shares during the last quarter. Finally, Arkadios Wealth Advisors boosted its holdings in Lumen Technologies by 23.6% during the 3rd quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company's stock valued at $95,000 after acquiring an additional 2,554 shares during the period. Hedge funds and other institutional investors own 66.19% of the company's stock.
About Lumen Technologies
(
Get Free Report)
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.
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