Lumen Technologies (NYSE:LUMN) Given New $4.50 Price Target at The Goldman Sachs Group

Lumen Technologies (NYSE:LUMN - Free Report) had its price target lifted by The Goldman Sachs Group from $4.00 to $4.50 in a research note released on Friday, Benzinga reports. They currently have a neutral rating on the technology company's stock.

A number of other research analysts have also recently weighed in on LUMN. JPMorgan Chase & Co. raised shares of Lumen Technologies from an underweight rating to a neutral rating in a report on Wednesday, August 7th. Citigroup raised Lumen Technologies from a sell rating to a neutral rating and upped their price target for the stock from $1.25 to $3.15 in a report on Tuesday, August 6th. UBS Group raised their price objective on Lumen Technologies from $1.50 to $5.00 and gave the company a neutral rating in a report on Wednesday, August 7th. Moffett Nathanson upped their target price on Lumen Technologies from $1.00 to $3.00 and gave the stock a sell rating in a research note on Wednesday, August 7th. Finally, TD Cowen lifted their price target 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. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $4.09.

Lumen Technologies Stock Performance

LUMN traded up $0.10 during trading on Friday, reaching $6.78. 7,943,673 shares of the company's stock were exchanged, compared to its average volume of 20,352,355. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01. Lumen Technologies has a 1 year low of $0.78 and a 1 year high of $7.83. The company's fifty day simple moving average is $5.52 and its 200-day simple moving average is $2.77. The stock has a market capitalization of $6.88 billion, a P/E ratio of -0.61 and a beta of 1.18.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.07). The business had revenue of $3.27 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was down 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. As a group, research analysts predict that Lumen Technologies will post -0.17 earnings per share for the current fiscal year.

Insider Activity at Lumen Technologies

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $4.70 per share, with a total value of $47,000.00. Following the completion of the purchase, the director now owns 384,056 shares in the company, valued at approximately $1,805,063.20. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lumen Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in LUMN. HighPoint Advisor Group LLC purchased a new position in Lumen Technologies during the fourth quarter worth about $27,000. Sanctuary Advisors LLC acquired a new position in Lumen Technologies in the second quarter valued at approximately $25,000. Fidelis Capital Partners LLC grew its position in Lumen Technologies by 94.6% in the first quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company's stock worth $35,000 after acquiring an additional 10,764 shares during the period. Sawgrass Asset Management LLC increased its stake in Lumen Technologies by 68.5% during the second quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company's stock worth $25,000 after acquiring an additional 9,263 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in Lumen Technologies in the second quarter valued at $26,000. 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.