Stock Traders Purchase High Volume of Lumen Technologies Call Options (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) was the target of unusually large options trading activity on Monday. Stock traders bought 78,615 call options on the company. This is an increase of 39% compared to the typical daily volume of 56,695 call options.

Insider Buying and Selling

In other Lumen Technologies news, Director James Fowler acquired 10,000 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $4.70 per share, with a total value of $47,000.00. Following the acquisition, the director now directly owns 384,056 shares of the company's stock, valued at approximately $1,805,063.20. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Lumen Technologies

Several hedge funds have recently added to or reduced their stakes in LUMN. Allspring Global Investments Holdings LLC bought a new position in shares of Lumen Technologies during the third quarter valued at $46,000. AlphaMark Advisors LLC raised its position in Lumen Technologies by 1,458.9% during the 3rd quarter. AlphaMark Advisors LLC now owns 77,073 shares of the technology company's stock worth $547,000 after purchasing an additional 72,129 shares during the last quarter. Cornerstone Wealth Management LLC raised its position in Lumen Technologies by 25.8% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 21,936 shares of the technology company's stock worth $156,000 after purchasing an additional 4,500 shares during the last quarter. Stableford Capital II LLC acquired a new position in Lumen Technologies during the 3rd quarter worth about $71,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Lumen Technologies in the 3rd quarter valued at about $318,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Price Performance

Shares of NYSE LUMN traded down $0.17 during midday trading on Monday, reaching $6.57. 57,044,462 shares of the company were exchanged, compared to its average volume of 20,020,107. The stock's 50-day moving average price is $6.10 and its 200-day moving average price is $3.15. The stock 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 quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 39.51. Lumen Technologies has a one year low of $0.78 and a one year high of $7.83.

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

Analysts Set New Price Targets

LUMN has been the subject of a number of recent analyst reports. Citigroup upgraded Lumen Technologies from a "sell" rating to a "neutral" rating and upped their target price for the company from $1.25 to $3.15 in a research report on Tuesday, August 6th. Moffett Nathanson increased their price objective on shares of Lumen Technologies from $1.00 to $3.00 and gave the stock a "sell" rating in a research note on Wednesday, August 7th. The Goldman Sachs Group boosted their target price on shares of Lumen Technologies from $4.00 to $4.50 and gave the company a "neutral" rating in a research report on Friday, October 4th. Wells Fargo & Company lowered shares of Lumen Technologies from an "equal weight" rating to an "underweight" rating and increased their price target for the stock from $1.75 to $4.00 in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. upgraded Lumen Technologies from an "underweight" rating to a "neutral" 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. Based on data from MarketBeat.com, Lumen Technologies currently has a consensus rating of "Hold" and an average 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.