Lumen Technologies (NYSE:LUMN) Shares Gap Up to $1.11

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $1.11, but opened at $1.16. Lumen Technologies shares last traded at $1.14, with a volume of 1,953,563 shares trading hands.

Lumen Technologies Trading Down 3.6 %

The firm has a market capitalization of $1.09 billion, a P/E ratio of -0.10 and a beta of 1.20. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 36.89. The firm has a 50 day moving average of $1.26 and a 200-day moving average of $1.46.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its earnings results on Tuesday, April 30th. The technology company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.01). Lumen Technologies had a negative net margin of 76.21% and a positive return on equity of 4.06%. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The business's revenue was down 12.0% compared to the same quarter last year. On average, equities research analysts predict that Lumen Technologies, Inc. will post -0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Lumen Technologies

In other news, CEO Kathleen E. Johnson acquired 750,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was acquired at an average cost of $1.28 per share, for a total transaction of $960,000.00. Following the completion of the transaction, the chief executive officer now directly owns 7,756,290 shares in the company, valued at $9,928,051.20. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.68% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Strategies Wealth Advisors LLC acquired a new stake in shares of Lumen Technologies during the 4th quarter valued at $26,000. Brighton Jones LLC bought a new stake in shares of Lumen Technologies during the fourth quarter worth about $27,000. HighPoint Advisor Group LLC acquired a new position in shares of Lumen Technologies in the fourth quarter valued at approximately $27,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Lumen Technologies in the third quarter valued at approximately $30,000. Finally, Belpointe Asset Management LLC raised its holdings in Lumen Technologies by 52.1% in the 3rd quarter. Belpointe Asset Management LLC now owns 24,527 shares of the technology company's stock valued at $35,000 after buying an additional 8,405 shares during the last quarter. Institutional investors and hedge funds 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.