Shares of Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) were down 8.7% during mid-day trading on Tuesday . The stock traded as low as $4.61 and last traded at $4.44. Approximately 1,649,783 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 18,313,282 shares. The stock had previously closed at $4.86.
Analysts Set New Price Targets
LUMN has been the topic of several analyst reports. Wells Fargo & Company raised 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. Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and cut their target price for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $4.25 price target on shares of Lumen Technologies in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $4.59.
View Our Latest Report on Lumen Technologies
Lumen Technologies Stock Performance
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 firm's fifty day moving average is $4.89 and its 200 day moving average is $6.04. The company has a market cap of $4.04 billion, a PE ratio of -78.84 and a beta of 1.28.
Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings results 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, research analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.
Institutional Trading of Lumen Technologies
Large investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Lumen Technologies by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company's stock valued at $165,776,000 after purchasing an additional 383,693 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Lumen Technologies by 8.6% in the fourth quarter. Northern Trust Corp now owns 12,354,499 shares of the technology company's stock worth $65,602,000 after buying an additional 982,206 shares in the last quarter. Norges Bank acquired a new position in Lumen Technologies during the fourth quarter worth about $63,638,000. Renaissance Technologies LLC grew its stake in Lumen Technologies by 76.3% during the 4th quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company's stock valued at $61,936,000 after acquiring an additional 5,049,709 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Lumen Technologies by 368.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company's stock worth $52,111,000 after purchasing an additional 7,717,596 shares in the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.
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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