Lumen Technologies (NYSE:LUMN) Trading Up 5.6% - Still a Buy?

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

Wall Street Analyst Weigh In

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

Lumen Technologies Stock Performance

The firm has a market cap of $5.24 billion, a P/E ratio of -104.06 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 firm's fifty day moving average price is $5.14 and its 200 day moving average price is $6.14.

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Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) 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%. Sell-side analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC acquired a new stake in Lumen Technologies during the 4th quarter worth about $1,139,000. Strategic Financial Concepts LLC raised its stake in shares of Lumen Technologies by 430.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company's stock worth $952,000 after purchasing an additional 145,542 shares during the last quarter. Polianta Ltd purchased a new stake in Lumen Technologies in the fourth quarter valued at approximately $692,000. Mariner Investment Group LLC acquired a new position in Lumen Technologies in the 4th quarter worth approximately $531,000. Finally, Crossmark Global Holdings Inc. purchased a new position in Lumen Technologies during the 3rd quarter worth approximately $433,000. Hedge funds and other institutional investors own 66.19% of the company's stock.

About Lumen Technologies

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.