Shares of Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) traded up 8.1% on Monday . The stock traded as high as $3.82 and last traded at $3.54. 6,729,175 shares changed hands during trading, a decline of 65% from the average session volume of 19,004,588 shares. The stock had previously closed at $3.27.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on LUMN. Wells Fargo & Company raised shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target on the stock in a research note on Friday, February 21st. Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and cut their target price for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $4.25 price target on shares of Lumen Technologies in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $4.59.
Check Out Our Latest Research Report on LUMN
Lumen Technologies Trading Down 2.4 %
The stock has a market capitalization of $3.54 billion, a PE ratio of -69.09 and a beta of 1.29. The company's 50 day moving average price is $4.48 and its two-hundred day moving average price is $5.80. 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 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 net margin of 0.42% and a negative return on equity of 46.17%. As a group, analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.
Institutional Investors Weigh In On Lumen Technologies
Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in Lumen Technologies by 3.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 76,905 shares of the technology company's stock valued at $408,000 after purchasing an additional 2,220 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Lumen Technologies by 7.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company's stock valued at $182,000 after buying an additional 2,457 shares during the period. Los Angeles Capital Management LLC lifted its position in Lumen Technologies by 20.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company's stock valued at $78,000 after buying an additional 2,489 shares during the last quarter. Avior Wealth Management LLC lifted its position in Lumen Technologies by 6.8% in the fourth quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company's stock valued at $222,000 after buying an additional 2,657 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Lumen Technologies by 15.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company's stock valued at $111,000 after acquiring an additional 2,844 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.
Lumen Technologies Company Profile
(
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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