Lumen Technologies (NYSE:LUMN) Stock Price Up 5% - Time to Buy?

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) shares traded up 5% on Friday . The company traded as high as $6.64 and last traded at $6.49. 3,853,617 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 19,789,490 shares. The stock had previously closed at $6.18.

Analysts Set New Price Targets

LUMN has been the subject of a number of research analyst reports. Wells Fargo & Company cut shares of Lumen Technologies from an "equal weight" rating to an "underweight" rating and upped their price objective for the stock from $1.75 to $4.00 in a research report on Friday, August 16th. Moffett Nathanson increased their price target on Lumen Technologies from $1.00 to $3.00 and gave the company a "sell" rating in a research note on Wednesday, August 7th. TD Cowen boosted their price objective on Lumen Technologies from $2.50 to $7.00 and gave the stock a "hold" rating in a research report on Wednesday, August 7th. UBS Group increased their target price on Lumen Technologies from $1.50 to $5.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised Lumen Technologies from an "underweight" rating to a "neutral" rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $4.09.

Lumen Technologies Stock Up 9.1 %

The stock has a 50-day moving average price of $6.10 and a 200-day moving average price of $3.13. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $6.85 billion, a P/E ratio of -0.62 and a beta of 1.19.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate 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 previous year, the business posted $0.10 EPS. The firm's revenue for the quarter was down 10.7% compared to the same quarter last year. On average, research analysts predict that Lumen Technologies, Inc. will post -0.18 EPS for the current fiscal year.

Insider Activity at Lumen Technologies

In other Lumen Technologies news, Director James Fowler bought 10,000 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the transaction, the director now directly owns 384,056 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lumen Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of LUMN. Virtu Financial LLC bought a new stake in shares of Lumen Technologies during the fourth quarter valued at approximately $264,000. Vanguard Group Inc. increased its stake in Lumen Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 118,327,820 shares of the technology company's stock valued at $216,540,000 after purchasing an additional 927,331 shares in the last quarter. HighPoint Advisor Group LLC acquired a new position in Lumen Technologies during the fourth quarter worth $27,000. Fulton Bank N.A. acquired a new stake in shares of Lumen Technologies in the 1st quarter worth about $48,000. Finally, Range Financial Group LLC lifted its holdings in shares of Lumen Technologies by 129.6% in the first quarter. Range Financial Group LLC now owns 109,181 shares of the technology company's stock valued at $170,000 after purchasing an additional 61,632 shares in the last quarter. 66.19% of the stock is owned by institutional investors.

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.