Lumen Technologies (NYSE:LUMN) Trading Down 3.7%

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report)'s stock price was down 3.7% during trading on Tuesday . The company traded as low as $1.03 and last traded at $1.04. Approximately 3,629,104 shares changed hands during trading, a decline of 69% from the average daily volume of 11,637,428 shares. The stock had previously closed at $1.08.

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Lumen Technologies Stock Performance

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 36.89. The firm has a market capitalization of $1.09 billion, a PE ratio of -0.10 and a beta of 1.20. The firm has a 50-day moving average price of $1.29 and a 200 day moving average price of $1.47.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.38 billion. Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The firm's revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. Research analysts expect that Lumen Technologies, Inc. will post -0.16 earnings per share for the current year.

Insider Transactions at Lumen Technologies

In related news, CEO Kathleen E. Johnson purchased 750,000 shares of Lumen Technologies stock in a transaction on Thursday, May 2nd. The shares were bought at an average price of $1.28 per share, with a total value of $960,000.00. Following the transaction, the chief executive officer now directly owns 7,756,290 shares of the company's stock, valued at $9,928,051.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.68% of the company's stock.

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Institutional Investors Weigh In On Lumen Technologies

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Lumen Technologies by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company's stock worth $187,673,000 after acquiring an additional 1,975,400 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lumen Technologies by 28.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,304,001 shares of the technology company's stock valued at $48,136,000 after buying an additional 5,782,249 shares in the last quarter. Invesco Ltd. grew its position in shares of Lumen Technologies by 16.0% in the 3rd quarter. Invesco Ltd. now owns 22,272,831 shares of the technology company's stock valued at $31,627,000 after buying an additional 3,071,405 shares during the last quarter. Hsbc Holdings PLC raised its stake in Lumen Technologies by 20.6% during the 3rd quarter. Hsbc Holdings PLC now owns 21,698,150 shares of the technology company's stock worth $31,344,000 after acquiring an additional 3,713,167 shares in the last quarter. Finally, Palestra Capital Management LLC boosted its stake in Lumen Technologies by 71.0% in the fourth quarter. Palestra Capital Management LLC now owns 11,167,585 shares of the technology company's stock valued at $20,437,000 after acquiring an additional 4,637,585 shares in the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.

About Lumen Technologies

(Get Free Report)

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.

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