Lumen Technologies (NYSE:LUMN) Trading Up 8.5% - Should You Buy?

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) traded up 8.5% on Friday . The company traded as high as $6.94 and last traded at $6.93. 6,166,533 shares were traded during trading, a decline of 69% from the average session volume of 19,673,609 shares. The stock had previously closed at $6.39.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LUMN shares. Wells Fargo & Company lowered Lumen Technologies from an "equal weight" rating to an "underweight" rating and upped their target price for the company from $1.75 to $4.00 in a research report on Friday, August 16th. JPMorgan Chase & Co. raised shares of Lumen Technologies from an "underweight" rating to a "neutral" rating in a report on Wednesday, August 7th. Moffett Nathanson raised their price objective on shares of Lumen Technologies from $1.00 to $3.00 and gave the stock a "sell" rating in a report on Wednesday, August 7th. The Goldman Sachs Group upped 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, Bank of America lifted their price target on Lumen Technologies from $1.00 to $2.00 and gave the stock an "underperform" rating in a research note on Thursday, August 8th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $4.09.

Lumen Technologies Stock Performance

The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 39.51. The stock has a 50 day simple moving average of $6.24 and a 200 day simple moving average of $3.48. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of -3.33 and a beta of 1.19.

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

Insider Activity

In related news, Director James Fowler bought 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased 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 of the company's stock, valued at approximately $1,805,063.20. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.68% of the company's stock.

Hedge Funds Weigh In On Lumen Technologies

Several hedge funds have recently modified their holdings of LUMN. Sawgrass Asset Management LLC boosted its stake in Lumen Technologies by 68.5% during the second quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company's stock valued at $25,000 after buying an additional 9,263 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Lumen Technologies during the 2nd quarter valued at about $25,000. ANTIPODES PARTNERS Ltd bought a new stake in shares of Lumen Technologies in the 2nd quarter worth approximately $26,000. Concord Wealth Partners lifted its stake in Lumen Technologies by 98.8% during the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company's stock valued at $28,000 after purchasing an additional 1,992 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in Lumen Technologies during the second quarter worth approximately $33,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

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.