Lumen Technologies (NYSE:LUMN) Stock Price Up 7.7% - Should You Buy?

Shares of Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) rose 7.7% during mid-day trading on Tuesday . The stock traded as high as $5.00 and last traded at $4.96. Approximately 6,643,124 shares were traded during trading, a decline of 45% from the average daily volume of 11,981,886 shares. The stock had previously closed at $4.60.

Wall Street Analysts Forecast Growth

LUMN has been the topic of several analyst reports. Royal Bank of Canada restated a "sector perform" rating and set a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Wells Fargo & Company upgraded Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price objective on the stock in a report on Friday. TD Cowen lowered their price target on Lumen Technologies from $7.00 to $6.00 and set a "hold" rating for the company in a report on Wednesday, November 6th. Citigroup boosted their price target on Lumen Technologies from $6.50 to $8.00 and gave the company a "neutral" rating in a report on Friday, November 29th. Finally, The Goldman Sachs Group boosted their price target on Lumen Technologies from $4.50 to $5.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $4.78.

Lumen Technologies Stock Down 0.3 %

The firm has a market cap of $4.74 billion, a price-to-earnings ratio of -93.48 and a beta of 1.28. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The stock has a 50-day moving average of $5.38 and a 200-day moving average of $6.17.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. As a group, sell-side analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Concord Wealth Partners boosted its position in Lumen Technologies by 98.8% during the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company's stock worth $28,000 after acquiring an additional 1,992 shares during the period. Legacy Investment Solutions LLC acquired a new position in Lumen Technologies during the 3rd quarter worth $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Lumen Technologies during the 3rd quarter worth $36,000. Allspring Global Investments Holdings LLC acquired a new position in Lumen Technologies during the 3rd quarter worth $46,000. Finally, Smartleaf Asset Management LLC boosted its position in Lumen Technologies by 173.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock worth $36,000 after acquiring an additional 4,277 shares during the period. 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.