Lumen Technologies (NYSE:LUMN) Sets New 52-Week High - Should You Buy?

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $7.95 and last traded at $7.95, with a volume of 4890455 shares traded. The stock had previously closed at $6.74.

Analyst Upgrades and Downgrades

LUMN has been the topic of a number of research reports. TD Cowen lifted their target price on shares of Lumen Technologies from $2.50 to $7.00 and gave the company a "hold" rating in a research note on Wednesday, August 7th. Bank of America increased their target price on Lumen Technologies from $1.00 to $2.00 and gave the stock an "underperform" rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. upgraded Lumen Technologies from an "underweight" rating to a "neutral" rating in a research report on Wednesday, August 7th. Citigroup upgraded Lumen Technologies from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $1.25 to $3.15 in a report on Tuesday, August 6th. Finally, Moffett Nathanson boosted their target price on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a "sell" rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $4.09.

Lumen Technologies Trading Down 2.5 %

The stock's 50 day moving average is $6.10 and its 200-day moving average is $3.15. The company has a market cap of $6.67 billion, a P/E ratio of -0.61 and a beta of 1.19. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 39.51.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.07). The firm had revenue of $3.27 billion for the quarter, compared to analysts' expectations of $3.25 billion. Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. The company's quarterly revenue was down 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 EPS. Research analysts anticipate that Lumen Technologies, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Activity

In related news, Director James Fowler purchased 10,000 shares of Lumen Technologies stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the purchase, the director now directly owns 384,056 shares of the company's stock, valued at $1,805,063.20. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.68% of the company's stock.

Institutional Trading of Lumen Technologies

Several large investors have recently modified their holdings of the company. Millennium Management LLC boosted its position in Lumen Technologies by 129.8% in the second quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company's stock worth $8,640,000 after purchasing an additional 4,436,710 shares during the last quarter. Front Street Capital Management Inc. boosted its holdings in shares of Lumen Technologies by 30.1% in the second quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company's stock worth $12,827,000 after buying an additional 2,697,423 shares during the last quarter. Vanguard Group Inc. grew its position in Lumen Technologies by 1.7% during the first quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company's stock valued at $187,673,000 after buying an additional 1,975,400 shares during the period. AQR Capital Management LLC grew its position in Lumen Technologies by 52.5% during the second quarter. AQR Capital Management LLC now owns 3,621,874 shares of the technology company's stock valued at $3,712,000 after buying an additional 1,246,289 shares during the period. Finally, Squarepoint Ops LLC raised its position in Lumen Technologies by 364.0% in the second quarter. Squarepoint Ops LLC now owns 766,281 shares of the technology company's stock worth $843,000 after acquiring an additional 1,056,551 shares during the period. Institutional investors 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.