Lumen Technologies (NYSE:LUMN) Trading 3.8% Higher - What's Next?

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) shot up 3.8% during mid-day trading on Tuesday . The company traded as high as $6.42 and last traded at $6.31. 2,470,961 shares traded hands during trading, a decline of 88% from the average session volume of 19,926,715 shares. The stock had previously closed at $6.08.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. UBS Group raised their price target on shares of Lumen Technologies from $1.50 to $5.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. The Goldman Sachs Group lifted their price target on Lumen Technologies from $4.00 to $4.50 and gave the company a "neutral" rating in a research note on Friday, October 4th. TD Cowen increased their price target on Lumen Technologies from $2.50 to $7.00 and gave the stock a "hold" rating in a research report on Wednesday, August 7th. Moffett Nathanson boosted their price objective on Lumen Technologies from $1.00 to $3.00 and gave the company a "sell" rating in a research report on Wednesday, August 7th. Finally, Bank of America lifted their price target 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. 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 currently has an average rating of "Hold" and a consensus price target of $4.09.

Lumen Technologies Trading Up 1.6 %

The company has a 50 day moving average of $6.07 and a 200 day moving average of $3.05. The company has a debt-to-equity ratio of 39.51, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of -0.56 and a beta of 1.19.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings data 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 business had revenue of $3.27 billion during 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 firm's revenue was down 10.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. On average, research analysts predict that Lumen Technologies, Inc. will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling at Lumen Technologies

In other news, Director James Fowler bought 10,000 shares of Lumen Technologies stock in a transaction on Tuesday, September 3rd. The shares were bought 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 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lumen Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sawgrass Asset Management LLC increased its position 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 last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Lumen Technologies in the 2nd quarter valued at approximately $25,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Lumen Technologies in the 2nd quarter worth approximately $26,000. HighPoint Advisor Group LLC purchased a new position in shares of Lumen Technologies during the 4th quarter worth approximately $27,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in Lumen Technologies in the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors 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.