Short Interest in Lumen Technologies, Inc. (NYSE:LUMN) Decreases By 25.8%

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) saw a significant decline in short interest in September. As of September 30th, there was short interest totalling 61,160,000 shares, a decline of 25.8% from the September 15th total of 82,400,000 shares. Approximately 6.5% of the shares of the stock are short sold. Based on an average trading volume of 37,340,000 shares, the short-interest ratio is presently 1.6 days.

Insider Buying and Selling

In related news, Director James Fowler bought 10,000 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the transaction, the director now owns 384,056 shares of the company's stock, valued at approximately $1,805,063.20. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.68% of the stock is owned by company insiders.

Institutional Trading of Lumen Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sawgrass Asset Management LLC boosted its stake in shares of Lumen Technologies by 68.5% during the 2nd quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company's stock worth $25,000 after purchasing an additional 9,263 shares during the period. Sanctuary Advisors LLC purchased a new stake in Lumen Technologies in the 2nd quarter valued at about $25,000. ANTIPODES PARTNERS Ltd purchased a new stake in Lumen Technologies in the 2nd quarter valued at about $26,000. HighPoint Advisor Group LLC purchased a new stake in Lumen Technologies in the 4th quarter valued at about $27,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in Lumen Technologies in the 2nd quarter valued at about $33,000. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Stock Performance

Shares of Lumen Technologies stock traded down $0.08 on Friday, hitting $6.20. 9,031,358 shares of the company's stock were exchanged, compared to its average volume of 20,071,621. The company has a 50-day simple moving average of $5.97 and a 200-day simple moving average of $2.97. The stock has a market capitalization of $6.29 billion, a PE ratio of -0.57 and a beta of 1.19. Lumen Technologies has a 1 year low of $0.78 and a 1 year high of $7.83. The company has a debt-to-equity ratio of 39.51, a quick ratio of 1.01 and a current ratio of 1.01.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LUMN. TD Cowen upped their price objective 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 upped their price objective on shares of Lumen Technologies from $1.00 to $2.00 and gave the company an "underperform" rating in a research note on Thursday, August 8th. Citigroup raised shares of Lumen Technologies from a "sell" rating to a "neutral" rating and increased their price target for the stock from $1.25 to $3.15 in a research note on Tuesday, August 6th. The Goldman Sachs Group raised their target price on shares of Lumen Technologies from $4.00 to $4.50 and gave the company a "neutral" rating in a research note on Friday, October 4th. Finally, Moffett Nathanson raised their target price on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a "sell" rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, Lumen Technologies presently has an average rating of "Hold" and a consensus target price of $4.09.

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.